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The SEC scored a partial win against blockchain firm Opporty International and its owner, Sergii Grybniak, over an allegedly fraudulent ICO. đ”ïžââïž
- Judge Eric Komitee ruled that Opportyâs âOPPâ tokens were unregistered securities under the Howey test.
- Grybniak argued the sale was exempt under Reg D/S, but the judge found the SEC's guidance too vague.
- However, the judge agreed Opporty didn't meet exemption requirements, citing "directed selling efforts" in the U.S.
What do you think about the SEC's stance on ICOs? Drop your thoughts below! đŹ
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