Nano gets hit with class-action lawsuit

Nano is the target of a class action lawsuit because they promoted Bitgrail as a safe and stable exchange to get their tokens out to the masses. Unfortunately for Nano, Bitgrail was not a stable and secure exchange and it was hacked to the tune of $170 million and many investors lost their money. Since Nano played a large part in convincing prospective buyers to use an insecure exchange and broke the securities act of 1933, they should be sued and have to pay.
I am happy for this lawsuit, despite my usual disdain for lawsuits. I do think the Crypto market could use some regulations, although I don’t think it should be as regulated as a stock exchange. Investors should be responsible for their own actions but the agency needs to protect investors from breaches in the security system and obvious Ponzi schemes. If you invest in a bad company with a crappy product(like Trump Steaks), then its your fault for investing in a crappy product. However, if a company is marketing themselves as a legit company but is really a ponzi scheme, then that is on the company themselves. I think there does need to be a fine line between freedom and regulation in the Crypto market and it shouldn’t be the “wild wild west” forever.

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