Texas judge dismisses class action lawsuit against DeFi project Bancor, ruling it is not subject to U.S. jurisdiction

Odaily News A federal judge in Texas dismissed a securities class action lawsuit against the operator of the DeFi project Bancor Protocol. Judge Robert Pittman agreed with the judge, ruling that the plaintiffs failed to prove that the U.S. court had jurisdiction over the foreign defendants. The ruling indicated that Bancor's foreign operations were not subject to U.S. securities laws and that the plaintiffs could not sue Bancor in the United States for its suspended investment protection features. The judge also noted that Bancor and its founders did not have sufficient ties to the United States and suggested that the plaintiffs could sue in Israeli courts.