Korean Crypto Exchange Sued for Controversial Token Schemes

A lawsuit has reportedly been filed in South Korea in opposition to a neighborhood cryptocurrency change over its price-pumping schemes involving token issuance. The swimsuit alleges that Cashierest’s token which pays dividends and rebates transaction charges to buyers violates the nation’s capital markets regulation.

Additionally learn: 160 Crypto Exchanges Search to Enter Japanese Market, Regulator Reveals

The Lawsuit

South Korean regulation agency Aone filed a grievance with Seoul Central District Court docket on Oct. 5 in opposition to Newlink Co. Ltd., the proprietor of crypto change Cashierest, in keeping with native media. Lawyer Kim Dong-joo at Aone’s Seocho department defined that his agency is pursuing expenses in opposition to the crypto change for deviating from the general public curiosity as a way to restore the well being of the cryptocurrency market, Zdnet Korea conveyed.

The publication described one of many schemes utilized by the change as “Legal…

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