Tezos now has even more legal issues, termination seems inevitable

The United States District Court of Florida suggests that the leaders of Tezos, Arthur and Kathleen Breitman, have violated the American strict laws on securities. As everybody connected with the cryptocurrency world must know by know, ICO tokens are equal to securities in the eyes of American law enforcement, and it’s not like they have not warned anyone about this before. According to the court, both the state and federal laws were violated during the attraction of more than 200 million dollars in the ICO held this summer.

As suggested in the complaint the copy of which various media outlets already acquired, misconduct included the deception of clients. They were told that tokens were somehow connected with charity, while this was actually not the case. The defendant parties – Tezos Foundation and Dynamic Ledger Solutions – are also accused of factual omission and other unspecified unlawful activity.

The Tezos project is not doing well lately, this one can tell for sure. If your project appears in the news in connection with the internal corporate scandal, you are doing it wrong. And, as we have already seen with that Russian entrepreneur and other similar cases, the American law enforcement’s accusations against fraudulent ICOs tend not to be false.