Law360 (November 17, 2020, 4:28 PM EST) — Cryptocurrency issuer Quantstamp has urged a New York federal choose to toss an investor swimsuit alleging securities fraud, arguing its tokens aren’t securities and the swimsuit didn’t are available time.
Quantstamp pushed again Monday in opposition to allegations by buyers Matthew Kuzmeskas and Brett Messieh that the corporate’s white paper main as much as its preliminary coin providing of QSP tokens in November 2017 was deceptive as a result of it did not disclose the tokens had been a safety.
The buyers argue they did not know the token was a safety till April 2019, when the U.S. Securities and Change Fee launched a framework to make use of the 1946…
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