SafeMoon CEO reapplies to dismiss lawsuit on the grounds of the U.S. Department of Justice dissolving its cryptocurrency department

According to Cointelegraph, Braden John Karony, CEO of the crypto project SafeMoon, recently cited the latest policy from the U.S. Department of Justice in an attempt to overturn allegations of securities fraud against him. His defense attorney Nicholas Smith stated in a document submitted to the New York Federal Court on April 9 that according to new regulations from the Department of Justice on April 7, prosecutors should avoid using securities law provisions when dealing with cryptocurrency cases - unless parties voluntarily request asset recognition and Karony "explicitly expressed no intention to self-certify".

In November 2023, both the Department of Justice and SEC brought charges against Karony and other senior executives at SafeMoon for securities violations, wire fraud and money laundering. This letter is Karony's latest attempt to have his case dismissed. In February he requested a delay in his trial originally scheduled for March 31st citing potential impacts from President Trump's proposed cryptocurrency policies on his case. Earlier this year in February news broke that Thomas Smith, Chief Technology Officer at SafeMoon admitted involvement in a $200 million cryptocurrency fraud case.