Magistrate Judge: Crypto Exchange Not Subject To U.S. Securities Laws

(August 9, 2024, 10:59 AM EDT) -- AUSTIN, Texas — A federal magistrate judge in Texas recommended that a putative class complaint brought by investors who say an online crypto asset exchange and its organizers misled them by saying their investment was risk free should be dismissed without prejudice, writing that the complaint should proceed in an Israeli court because the crypto organization is registered as an entity in Israel and lacked sufficient contact with the United States....