Three people allegedly behind the cryptocurrency startup Centra Tech have each been charged with securities fraud, two counts of conspiracy and wire fraud.
A San Francisco resident has filed a securities class action lawsuit, claiming that Ripple Labs has violated state and federal securities laws whilst engaging in illegal schemes to raise hundreds of millions of dollars through the sale of unregistered XRP tokens.
Citing the Howey Test, former Commodity Futures Trading Commission chief Gary Gensler said Ethereum and Ripple tokens could be “operating outside of U.S. laws.”
Malta's Financial Services Authority has come up with a proposal for a Financial Instrument Test, which should distinguish between what assets that come from initial coin offerings are actually securities.
The Philippines' Securities and Exchange Commission has warned unregistered cloud mining operators--and their agents--that they could spend up to 21 years in jail for violating the securities laws.