Description
The SEC sues Coinseed Inc. and its CEO with the unregistered offering and sale of CSD tokens. In parallel to this SEC action, the New York Attorney General sought to shut down Coinseed’s operations after receiving numerous complaints from investors about unauthorized conversions of their holdings into Dogecoin and other questionable practices, which effectively trapped their investments.
Legal Significance
This case signifies SEC’s stance that digital tokens can be considered securities.
Status
Settled
Case No.
1:21-cv-01381
Date Filed
February 17, 2021
Plaintiff
SEC
Defendant
Coinseed Inc.Delgerdalai Davaasambuu
Court
USDC Southern District of New York
Plaintiff Counsel
Mark Raymond SylvesterRichard G. PrimoffRichard R. Best
Defendant Counsel
Morrison Cohen LLP
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