DOJ, SEC: Never condone ICO fraud even the law is not clear

According to the latest news, both the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) issued a statement on Monday saying that "Maksim Zaslavskiy claimed that his issued digital currency was not regulated by the US Securities Law.

In September last year, Zaslavskiy was accused by the SEC of securities fraud and was subsequently charged by the U.S. Department of Justice in November. Zaslavskiy refused to accept the accusation, saying that the digital currency he issued was not a securities and should be regarded as a currency; he also claimed that his “investment opportunity” was not an investment at all, but a type of commodities, the first real estate (REcoin). ) and Diamond support money sales; also claimed that the securities law did not explicitly tell him to issue digital currency is illegal.

However, the U.S. Department of Justice did not agree with his rhetoric. First, the SEC’s provisions on ICOs and digital currencies were not as vague as Zaslavskiy said. Second, they also believe that Zaslavskiy actually knew that he should obey the securities law. He once told a The client said that his business is in full compliance with the law; the Ministry of Justice also stated that Zaslavskiy knew he was committing a securities fraud.

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