To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Starbucks is not accepting Bitcoin, but builds an exchange

It will generally allow the crushed and boiled crypto investments to be converted to the crushed an...



The CTR was recognized as a security



The precedent is single.




28.Jun.18 9:39 PM
By Jeff Bannister
Photo Toinnov.com

   241

The CTR was recognized as a security
In the US, the token was first recognized as a security. Judge of the Federal District Court Andrea Simonton placed an analysis of the Centra Tech token (CTR) for compliance with securities laws. According to the publication CoinDesk, the analysis was carried out in a trial initiated by investors of the startup, who accused the owner of the company Floyd Mayweather of fraud and the sale of unregistered securities.

In the opinion of the initiators of the claim, during the purchase of the tokens, investors lost their money. The court revealed all the correspondence of the token to all points of the Howie test, which is used to determine securities.

The criteria of this test include the fact of investing, the possibility of making a profit and the dependence of the success of the campaign on the activities of its founders. Startup Centra Tech planned to develop a number of services, the success of which was completely dependent on the efforts of entrepreneurs. And the organizers offered CTR tokens as securities.

Expert Stephen Polly assessed this precedent as one of the most revealing cases of the position of lawyers. However, he noted, the decision of Andrea Simonton is not mandatory for the rest of the courts.



Back to the list


Related Information: