District Court Stays Securities Class Action Involving Initial Coin Offering Pending Supreme Court Review

On February 1, 2018, a federal district court in the Northern District of California stayed a putative class action involving the Tezos Initial Coin Offering (“ICO”) pending the United States Supreme Court’s decision in a case addressing state court jurisdiction over securities class actions.  In granting the defendant’s request for a stay, the court refrained from deciding the novel securities and jurisdictional issue of whether ICOs are securities offerings subject to the Securities Act of 1933. Continue reading “District Court Stays Securities Class Action Involving Initial Coin Offering Pending Supreme Court Review”