D sales of igital coins that generated billions of pounds by Bitcoin enthusiasts should be treated as securities and be subject to financial laws, a US judge has ruled.
The ruling in a criminal case, the first of its kind, opens other failed cryptocurrencies to be proven for securities fraud.
Early coin deals, known as ICOs, were used to raise tens of billions of pounds for technology projects, crowdfunding funds from online currency investors like Bitcoin and Ethereum.
In exchange for Bitcoin or Ethereum, start-ups sell tokens similar to cryptocurrencies, which should therefore be redeemed for services or early access to a project. Unregulated investment and "Wild West" …