Could Ben.eth’s PSYOP tokens face legal scrutiny? It depends, say lawyers
Michael Kanovitz, a lawyer threatening to file a class action against Ben.eth, says the PSYOP scheme bear similarities to cases that have seen SEC enforcement. Ben.eth, the pseudo-anonymous memecoin creator behind at least three controversial token launches in recent weeks could fall under the crosshair of United States regulators, crypto lawyers suggest. A previously little-known personality in the crypto community, Ben.eth has seen his Twitter following blow up nearly five-fold in May. The influencer has launched at least three memecoins in recent weeks — Ben Coin (BEN), PSYOP, and LOYAL. Pre-sales of these memecoins — which require Ether (ETH) to be sent directly to the creator himself — have allowed Ben.eth to gather thousands of ETH. Currently, his wallet holds 10,946 ETH, equivalent to $20.8 million. The ETH balance of the ben.eth wallet is nearing $21 million worth. Source: Etherscan While Ben.eth’s supporters have defended the legitimacy of the token sales, others warn that ...