News & Analysis as of

Non-Fungible Tokens (NFTs) Securities Litigation Settlement

Patterson Belknap Webb & Tyler LLP

DraftKings NFT Settlement Leaves Securities Question in Limbo

A class action lawsuit brought against online gaming company DraftKings Inc. relating to the company’s short-lived marketplace for non-fungible tokens, or NFTs, is likely to settle. Because the case will not proceed to a...more

Cornerstone Research

SEC Enforcement of Cryptocurrency Reaches a New High

Cornerstone Research on

More than 50% increase in SEC cryptocurrency-related enforcement actions in 2023 over 2022. The Securities and Exchange Commission (SEC) continues to view cryptocurrency-related enforcement as a top priority, bringing 46...more

McDermott Will & Schulte

SEC Cracks Down on NFTs With First-Of-Its-Kind Enforcement Action

On August 28, 2023, the US Securities and Exchange Commission (SEC) announced an enforcement action against Impact Theory, LLC, alleging that Impact Theory’s public sale of approximately $30 million in crypto assets violated...more

Akin Gump Strauss Hauer & Feld LLP

The SEC’s First NFT Enforcement Action: SEC v. Impact Theory

Key Points - On August 28, 2023, the SEC charged Impact Theory, LLC, a media company with an unregistered securities offering through its sale of NFTs. This marks the first time that the SEC has brought an enforcement action...more

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