Tezos Didn't Register Cryptocurrency With SEC, Suit Says

Tezos Didn’t Register Cryptocurrency With SEC, Suit Says

Law360, Los Angeles (November 3, 2017, 9:21 PM EDT) — A proposed class action has been filed in California state court against organizers of the Tezos blockchain network, accusing them of advertising the cryptocurrency they sold at an initial coin offering as securities despite not having registered with the Securities and Exchange Commission. In a complaint dated Oct. 25, investor Andrew Baker said Tezos conducted an initial coin offering in July, selling over 600 million “Tezzies” in exchange for digital currency worth $232 million at the time and now valued at $475 million. But a few…