Cryptocurrency Defense and Investigations

New York State Senator Kevin Thomas has prepared a bill outlining the framework for crypto-related prosecutions. The bill calls for defining, penalizing, and criminalizing fraudulent behavior in connection with cryptocurrencies.  Some of the charges set forth in the bill include failure to disclose the ownership of digital tokens, and if an individual or entity owns…

The Securities and Exchange Commission (SEC) recently charged two siblings with defrauding thousands of investors out of approximately $125 million through unregistered securities offerings involving a digital token.  According to the complaint, the siblings were selling the digital token, Ormeus Coin, on crypto trading platforms. The defendants utilized social media to falsely claim that Ormeus…