New York AG goes after the Ethereum blockchain

The complaint takes pains to argue that ether is a security under existing law.

It describes the initial coin offering that funded the development of Ethereum. Then it draws attention to theto a new consensus mechanism as evidence that a small group retains control over it. "The developers of ETH promoted it as an investment that was contingent on the growth of the Ethereum network," the complaint notes.

Independent operators that verify the validity of transactions on the blockchain are paid automatically in new ethers issued by the network, securing its ledger against manipulation.In order to verify that various cryptocurrencies were available in the state on KuCoin, a detective bought and sold digital assets on the platform from within its boundaries.The AG is seeking disgorgement of ill-gotten gains from New Yorkers, injunctive relief and other remedies.

You meant to write $200 billion but you wrote million in this piece

Guess she finally gave up on the Trump witch hunt

Good, we need to push all this tech stuff to other countries

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New York Attorney General Files Lawsuit Against Kucoin and Declares Ethereum a Security – Bitcoin NewsLetitia James and the OAG insist that the second-largest crypto asset by market capitalization, ethereum, is a security. ETH Make it make sense! Kucoin is not even based in the USA 🤔 Hello do you know about ETHGate ? 😂 Bitcoin has been trading in a tight trading range. But assets can’t consolidate forever, and all eyes are scanning for the catalyst that could kick it either higher or lower. $BTC Following Btc_06y tweets & tips have been helpful so far. I expect bitcoin to break out soon
Source: BTCTN - 🏆 531. / 51 Read more »