In the eyes of SEC, most of the cryptocurrencies are classified as securities. However, there are countries who claimed that cryptocurrencies are legal tender and not as securities. I know there's going to be a debate about cryptocurrencies being classified as securities or not. I do have a question for you guys though. Do they deserve to get sued for giving advice that cryptocurrencies are not securities? Or is this not necessary at all? What would be your reaction to this one guys? Cheers!
This is one of the many risks associated with law business. Maybe the law firm do not have the best professional capacity to advise the client and that they are just taking advantage of the demand for the service. We also have to remember that the final decision on how to categorize these digital assets rest on the government and that things are still fluid up to these days. Anyway, I hope that something positive for the aggrieved party can come out of this suit.