What the SEC’s Lawsuit Against Influencer Ian Balina Hints About Regulation

The Securities and Exchange Commission is charging Ian Balina, a cryptocurrency influencer. The agency alleges that Balina did not file a registration statement in the offering and sale of the Sparkster SPRK tokens. 

But it goes a but further than that. 

In paragraph 69 of the lawsuit, the SEC says, “[investors] ETH contributions were validated by a network of nodes on the Ethereum blockchain, which are clustered more densely in the United States than in any other country. As a result, those transactions took place in the United States.”

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