Rule 10b-5 prohibits fraud in the sale of securities, including misrepresentations or omissions of material facts. If a cryptocurrency is determined to be a security, individuals involved in the sale or promotion of the cryptocurrency could be subject to liability under Rule 10b-5 if they engage in fraudulent activities.
[
Source: ](https://jakedavis224.notion.site/Source-9f2c18941c664f4daaa7f0ce0f4cd174)