Crypto Lawyer: Whether Ben.eth Faces Legal Scrutiny Depends on Token Sale Investigated by U.S. Regulators

According to Cointelegraph, crypto lawyers said that Ben.eth has launched at least three controversial meme coins in recent weeks, Ben Coin (BEN), PSYOP and LOYAL, which may attract the attention of U.S. regulators, and his wallet currently holds 10946 ETH, equivalent to 20.8 million US dollars. In comments to Cointelegraph, attorney and partner at Piper Alderman, Michael Bacina, said that the legal issues Ben could face depended on whether the sale was investigated and what U.S. regulators conducted. The U.S. Securities and Exchange Commission (SEC) may consider these tokens to be investment contracts, like most other cryptocurrencies, or it may consider them to be unregistered securities, which could expose Ben to fines and penalties.