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ARTICLE · 19 FEBRUARY 2019

US Federal Court Rules Cryptocurrency Covered Under Securities Laws: Will Canada Follow Suit?

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The US District Court for the Eastern District of New York in United States v. Zaslavskiy (Zaslavskiy) rules that cryptocurrency may be covered by US securities laws ...

CanadaTechnology
Brigeeta C. Richdale
Brigeeta C. Richdale
Jessica L. Lewis
Jessica L. Lewis
Danielle DiPardo
Danielle DiPardo
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The US District Court for the Eastern District of New York in United States v. Zaslavskiy (Zaslavskiy) rules that cryptocurrency may be covered by US securities laws as they meet the test generally used to determine whether an instrument is an "investment contract" pursuant to US securities laws.

Key Takeaways

  • Regulators' commitment to crackdown on cryptocurrency-related activities reaching the courts. Commencing as early as 2017, various regulators around the globe have published their positions on cryptocurrency and the classification of various types of cryptocurrencies. The Zaslavskiy decision demonstrates that US courts agree with SEC guidance that cryptocurrencies are, indeed, investments.

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