Silver Miller Files Class Action Lawsuit Against Tezos

Investors in Tezos seek their day in Court.  Silver Miller -- the leading cryptocurrency investor law firm in the country, with actions currently pending against the Coinbase, Kraken, and Cryptsy exchanges -- has filed suit against Tezos and its founders Arthur and Kathleen Brietman.  Everyone in the Initial Coin Offering world knew there was going to be a day of reckoning regarding whether ICOs are securities.  For Tezos, that day is today.  As the SEC and CFTC have previously stated, securities regulators look beyond the form or label someone appends to his/her/its activities and instead consider the actual substance and purpose of the activity.  As the old saying goes, “If it walks like a duck, and it quacks like a duck, it’s a duck.”  When regulators follow the money trail and investors’ expectations, this ICO was and can only be considered a security.  Read the full class action lawsuit here.


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