Safemoon, recall it? Despite the DOJ blockchain plan shift, the truth is that the stories aren’t forgetting about it.

Despite a letter released earlier this month warning federal prosecutors against pursuing cases that may include determining the securities position of crypto assets, the Department of Justice announced to a federal judge that it plans to pursue a securities scams case against the creators of the cryptocurrency Safemoon. &nbsp,

DOJ attorneys claimed in a text sent Friday to the Brooklyn federal judge overseeing the case that they had conducted an “internal overview” of whether the district’s new crypto policies may expose the Safemoon situation and that the case may proceed to trial on all counts.

The DOJ instructed its lawyers to settle legal bitcoin cases in a number of crucial areas in early April, and the DOJ suspended its crypto-focused enforcement team. One area of interest is those that “would require the Justice Department to litigate whether a digital asset is a” security” or a” commodity.” ‘” &nbsp,

Federal prosecutors detained the owners of Safemoon in soon 2023 and charged them with money laundering, wire fraud, and securities fraud. In fact, the accused “fraudulently diverted and misappropriated millions of dollars worth of allegedly “locked” SFM cash for their individual gain,” according to the indictment.

The plaintiffs ‘ motion to dismiss the case on the grounds that SFM is not a security was also denied by the judge overseeing the Safemoon event on Friday. This criticism was deemed early by the committee, which determined that it was not his responsibility to comment on SFM’s protection status. &nbsp,

He argued that the jury does decide whether or not SFM should be a safety. Before the events you build the case at trial, the Court should never settle that ultimately scientific dispute.

The charge of” stocks scam” in the Safemoon case, which the DOJ has announced it will continue to pursue in the context of its innovative online property laws, appears to be obligated on federal prosecutors to demonstrate at trial that SFM is a type of security known as an investment deal. &nbsp,

The business filed for bankruptcy a few days after the arrests of Safemoon’s founders. SFM briefly overtook a$ 1 billion market capitalization at its height in early 2022. It’s worth slightly more than$ 13 million as of right now.