Massachusetts Sues ICO Organizer for Alleged Securities Violations

Massachusetts Sues ICO Organizer for Alleged Securities Violations

The Massachusetts Securities Division is charging a resident of the state with violating securities and business laws through an initial coin offering (ICO) The division, part of the Office of the Secretary of the Commonwealth, accuses Brookline, MA, resident Kirill Bensonoff and his company, Caviar, of selling unregistered securities after he launched an ICO to sell "caviar" tokens from his home. While Caviar’s website stated it would only sell its tokens to non-U.S. residents, its controls were not stringent enough to actually prevent American residents from buying tokens. The filing claims that at least two U.S. residents were able […]