Home Technology Block.One’s $27.5 Million Deal With Crypto Investors Is Canceled

Block.One’s $27.5 Million Deal With Crypto Investors Is Canceled

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Block.One’s $27.5 Million Deal With Crypto Investors Is Canceled

Blockchain tech developer Block.One has proposed a $27.5 million settlement with suing investors who say it should have registered its ‘coin’ offering as a securities sale does not merit approval final because the absent members of the group are not adequately represented, a federal court in New York ruled.

The “anonymous and decentralized environment” of blockchain technology obscures the proportion of purchases by lead plaintiff and class members that were subject to U.S. securities laws, judges Lewis A. Kaplan the U.S. District Court for the Southern District of New York said Monday.

What if this proportion was lower than the proportion of other investors’ transactions in the United States compared…

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