Federal criminal case could lead to legal ramifications for ICOs

Federal prosecutors charged Maksim Zaslavskiy with securities fraud for defrauding investors in two ICOs. The judge presiding over the case ruled that securities laws may cover ICOs, but it was ultimately up to the jury to decide whether the ones at issue were securities. While the ruling focuses on Zaslavskiy's ICOs, if upheld on appeal, it could have broader ramifications for the entire market. (Source: Bloomberg)