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U.S. District Judge Gonzalo Curiel.

In what appears to be the first federal decision finding that the U.S. Securities and Exchange Commission hasn’t shown a digital asset offered in an initial coin offering is a security, a judge in San Diego has turned back a request from the SEC for a preliminary injunction against the backers of the Blockvest ICO.

Ross Todd

Ross Todd is bureau chief of The Recorder in San Francisco. He writes about litigation in the Bay Area and around California. Contact Ross at rtodd@alm.com. On Twitter: @Ross_Todd.

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