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BProtocol Foundation Argues NYC Court Has No Right To Hear 'International' Case
Summary: According to court records filed in the U.S. Southern District of New York, lawyers for blockchain firm BProtocol Foundation argued that a court outside the U.S. would be more suited to oversee the case due to the “international” nature of the complaint. The BProtocol Foundation legal team said the complaint was “based on a man ...
According to court records filed in the U.S. Southern District of New York, lawyers for blockchain firm BProtocol Foundation argued that a court outside the U.S. would be more suited to oversee the case due to the “international” nature of the complaint.
The BProtocol Foundation legal team said the complaint was “based on a man in Wisconsin using an exchange in Singapore to purchase tokens issued by a Swiss entity,” which was not appropriate to try in New York.
BProtocol Foundation is one of seven crypto companies facing court in New York following a series of lawsuits filed in April. The lawsuits allege that the exchanges sold unlicensed securities without broker-dealer licensing and engaged in market manipulation in addition to a number of them selectively withholding information from investors regarding the sale of their tokens as securities.
In BProtocol Foundation’s case, Holsworth alleges the blockchain firm violated U.S. securities laws with the sale of its Bancor Network Token (BNT).
By Amy Liu
Tags: BProtocol Foundation,Court,NYC
Link: BProtocol Foundation Argues NYC Court Has No Right To Hear 'International' Case [Copy]
