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A US Federal Jury Says Crypto 'Paycoin' is Not a Security
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Adding to the ongoing debate on the legal status of cryptoassets, a federal jury in Connecticut, USA, has ruled that a cryptocurrency and related assets offered by Paycoin founders are not securities.
The jury issued its verdict - which goes against the stance presented by the Securities Exchange Commission (SEC) - in relation to a case involving Homero Joshua Garza, the founder of the Paycoin cryptocurrency, according to comment by law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo,
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