PANews reported on April 10 that according to Cointelegraph, Braden John Karony, CEO of the crypto project SafeMoon, recently cited the latest policy of the U.S. Department of Justice in an attempt to overturn the charges 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 the new regulations of the Department of Justice on April 7, prosecutors should avoid using securities law provisions when involving cryptocurrency cases - unless the parties actively request to identify the attributes of the assets, and Karony "clearly stated that he had no intention of proving himself."
In November 2023, the Department of Justice and the U.S. SEC simultaneously filed securities violations, wire fraud, and money laundering charges against Karony and other SafeMoon executives. This letter is Karony's latest attempt to get the case dismissed. In February, he requested a postponement of the trial, which was originally scheduled to begin on March 31, on the grounds that President Trump's proposed cryptocurrency policy could have an impact on the case. Earlier in February this year, SafeMoon CTO Thomas Smith admitted to participating in a $200 million cryptocurrency fraud case.
