7 Crypto Firms Targeted by 11 Lawsuits in New York

Eleven lawsuits target seven crypto companies The eleven putative class action suits name dozens of parties including cryptocurrency exchanges Binance, KuCoin, BiBox, and BitMEX and parent company HDR Global Trading Limited, and alleged crypto issuers Block.one, Quantstamp, KayDex, Civic, BProtocol, Status, and the Tron Foundation. Crypto firms accused of wholesale securities violations The lawsuit alleges that numerous exchanges have sold unlicensed securities without broker-dealer licensing and engaged in market manipulation.

Bibox Token (BIX), Eos (EOS), Bancor (BNT), Status (SNT), Quantstamp (QSP), Kyber Network (KNC), Tron (TRX), Funfair (FUN), Icon (ICX), OmiseGO (OMG), ETHLend (LEND), Aelf (ELF), TomoChain (TOMO) and Civic (CVC) are among the crypto assets that the plaintiffs argue comprise securities. The case is likely to invoke familiar discussions surrounding the jurisdiction of the court in ruling against parties based outside of the U.S., discourse concerning the efforts of exchanges and token issuers to exclude U.S. residents from their platforms and offerings, and whether the crypto assets in question comprise securities.

Timeline of Bancor, Civic, Ethlend, Kyber-network, Omisego, Quantstamp, Status, Aelf, Eos, Funfair, Icon, Tron