Crypto-Related Lawsuits Number Peaks in US
September 18, 2018
American analytical company Lex Machina has released a new report under which experts have scrutinized law proceedings on securities initiated in federal district courts of the US from 2009 to the first two quarters of this year. As the document says, this year saw an increase in the number of suits that involved cryptocurrencies.
According to the report, total number of lawsuits on digital currencies and ICO in 2017 amounted to 15 while it was 45 over the first 6 months of this year alone. Note that half a year after Jay Clayton was appointed a new chairman of the SEC total amount of cases on securities registering has hit its ever high level of 2622 which is almost 60% more than before.
“The SEC, which has vowed to scrutinize cryptocurrencies and initial coin offerings, was responsible for 30 percent of the cases filed in 2018, that’s the second-most popular filer of such cases, topped only by the law firm Levi & Korsinsky”, legal data expert at Lex Machina Laura Hopkins wrote.
The experts are convinced that the growth in the number of lawsuits was caused by the Bitcoin and altcoin cost crush this January. In particular, only 7 suits were filed in the fourth quarter of the last year, while it was 21 next month.