According to ChainCatcher, a federal judge in Texas dismissed a securities class action lawsuit against the operator of the DeFi project Bancor protocol. Judge Robert Pittman agreed with the judge and ruled that the plaintiff failed to prove that the US court had jurisdiction over the foreign defendant.

The ruling indicated that Bancor's foreign operations are not subject to US securities laws and the plaintiff cannot sue Bancor in the United States for its suspension of investment protection functions. The judge also pointed out that Bancor and its founders do not have sufficient ties to the United States and suggested that the plaintiff could file a lawsuit in an Israeli court.