A United States lawyer has said “it would be absurd” for a U.S. court to constitute Dapper Labs’ NBA Top Shot Moments NFT and all other digital assets of value on a centralized database as a security.
U.S. attorney Jake Chervinsky made the comment after federal judge Victor Marreo denied a motion to dismiss a 2021 lawsuit that accused Dapper Labs of selling nonfungible tokens as unregistered securities.
Chervinsky was among a host of lawyers on Twitter to reiterate that the judge’s denial of the motion does not mean a ruling has been made on the lawsuit, only that it was “facially plausible.” “The judge didn't decide anything. He allowed the case to proceed past a motion to dismiss because the securities claims were at least ‘plausible,’ an extremely low bar and not a final ruling at all,” he explained.
“This dispute aside, it would be absurd if all valuable digital assets stored on centralized databases were securities.” “This would turn every major video game developer, event ticketing platform, travel rewards program, etc. into a public reporting company regulated by the SEC,” he explained.The judge didn't decide anything. He allowed the case to proceed past a motion to dismiss because the securities claims were at least "plausible," an extremely low bar and not a final ruling at all.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Anti-Asian Racism’s Deep Roots in the United StatesFrom the Archives: SAPIENS talks with anthropologist Kyeyoung Park about anti-Asian violence and Asian Americans’ fraught sense of belonging in the U.S.
Baca lebih lajut »
Gold Price Forecast: XAU/USD slides on hawkish Federal Reserve Minutes, United States data eyedGold price (XAU/USD) bears the burden of hawkish Federal Reserve (Fed) bias, as well as the geopolitical fears, as the yellow metal pokes a short-term
Baca lebih lajut »
Unvaccinated Novak Djokovic asks United States for entry to play in tennis tournaments'I have a big desire to be there.' Novak Djokovic, who is unvaccinated against COVID-19, has asked the United States for entry into the country so he can play in tournaments in Florida and California.
Baca lebih lajut »
NBA's 'Top Shot' NFTs Are Securities, Judge Rules in Dapper Labs CaseNEW: A federal judge has ruled that the offering of NBA Top Shot Moment NFTs, issued by Dapper Labs, are securities. nikhileshde cheyenneligon report
Baca lebih lajut »
Dapper Labs' NBA Top Shot Moments NFTs are securities, federal judge rulesBut the ruling is a narrow one that may not apply to other NFTs, the judge noted.
Baca lebih lajut »