Judge Ronnie Abrams Decision of the Day: Fraud Claim Not Stated in Action Over 'Worthless' Props Tokens Cryptocurrency
This ruling was selected and summarized by the New York Law Journal's decision editors.
January 13, 2023 at 09:30 AM
2 minute read
In 2017 Open Props Inc. announced its creation of Props Tokens cryptocurrency. Initial coin offerings for Props Token transactions were governed by Simple Agreement for Future Tokens purchase agreements expressly stating that the Props Tokens "[were] a security."
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