A federal court in California has accepted a plaintiff’s petition in a case against Paragon cryptocurrency startup to consider it at the federal level. Investors accuse the project of selling unregistered securities for $70 million.
The creators of the project raised the indicated amount in 2017 through an ICO. They planned to issue a PRG token as a digital currency for the cannabis industry. A class-action lawsuit against the company was first filed in January 2018.