While the Securities and Exchange Commission has taken a more active role in policing initial coin offerings over the last year, many in the ICO space have hoped courts would limit the reach of the federal securities laws.
However, courts have repeatedly dashed such hopes. On Jan. 24, a federal appellate court poured further cold water over the idea that someone in the U.S. selling securities to investors outside the U.S. might evade the SEC’s reach.
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