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The preliminary coin providing (ICO) of in 2014, which raised $18 million, is below scrutiny as a consequence of potential authorized points. Posts by Steven Nerayoff on X recommend that co-founders Vitalik Buterin and Joseph Lubin could have bypassed laws with a doc that Lubin claims supplied authorized clearance. This might have been an unconfirmed “no-action” letter from the Securities and Change Fee (SEC) or a paper by authors of “Is a Safety?”.
Lawyer Invoice Morgan’s tweets increase questions on whether or not Ethereum obtained two exemptions from the SEC, one for the ICO and one other linked to the 2018 Hinman speech. This might recommend that Ethereum prevented securities registration, which might pose a threat of it being an unregistered safety. Nevertheless, any alleged violations is likely to be past the statute of limitations.
These speculations contradict Lubin’s claims of guideline adherence and intensify the authorized scrutiny surrounding Ethereum’s upcoming transition. The co-founders haven’t but responded to those allegations as of Wednesday.
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