Bancor’s legal team has asked for a court case filed in the U.S. Southern District of New York to be dismissed, saying that it would be more suitable for it to be held internationally. The filing was first reported by Law360.
- Court filings published on October 13 show that BProtocol Foundation and its four founders wish for a securities violation case to be tried in Israel, where the founders are located, given its “international” nature
- The lawsuit complains Bancor had sold unregistered securities, but the legal team claims that the plaintiff had used a Singaporean exchange to purchase BNT
- Bancor’s lawyer stated, “Israel has a robust legal system of which Plaintiff could avail himself”
- The United States has been ramping up cases against crypto companies in the past few weeks, including ones against BitMEX and John McAfee
- Ripple executive chairman Chris Larsen has also said that the US regulatory is not conducive for operations, even suggesting that Ripple may relocate its headquarters