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Complaints were brought against the organizers of the Tezos Foundation for fraud and violation of United States Securities Act during ICO in the US. Investments in Tezos were declared as donations, while many thought they were investments. Also, the Tezos tokens were declared “securities” sold to US investors, while the law requires that the sale be registered with the Securities and Exchange Commission. However, tokens were not registered. In this situation, the only way out is the termination of the deal and the return of money to US investors.

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