News & Analysis as of

Non-Fungible Tokens (NFTs) Token Sales Enforcement Actions

Latham & Watkins LLP

SEC Staff Clarifies That Meme Coins Are Not Securities

Latham & Watkins LLP on

The Staff stated that most meme coins are not subject to federal securities laws or SEC fraud enforcement; who will oversee meme coins remains an open question. On February 27, 2025, the Securities and Exchange...more

Latham & Watkins LLP

SEC Reels in Fishy NFT Project

Latham & Watkins LLP on

In its third action involving NFTs, the SEC targets a restaurant membership token tied to fundraising and promises of potential price appreciation for buyers....more

Polsinelli

Blockchain+ Bi-Weekly: August 2024

Polsinelli on

As the end of summer approaches, litigation in the digital asset industry has remained hot. In the SEC’s cases against various exchanges, ongoing discovery fights are starting to play out in court filings, and one can expect...more

Barnea Jaffa Lande & Co.

SEC Signals Intent to Regulate NFTs

Barnea Jaffa Lande & Co. on

This past August, the US Securities and Exchange Commission took enforcement action against Impact Theory, a US media company that sold NFTs called “KeyNFTs.” It filed a second enforcement action shortly thereafter, against...more

A&O Shearman

SEC charges Impact Theory for unregistered offering of NFTs

A&O Shearman on

On August 28, 2023, the Securities and Exchange Commission (the “SEC”) charged Impact Theory, LLC (“Impact Theory”), a media and entertainment company headquartered in Los Angeles, with conducting an unregistered securities...more

BakerHostetler

NFT Used for Service of Process; Blockchain CO2 Monitoring Solution Launches; IRS Addresses Staking; SEC Enforcement Continues;...

BakerHostetler on

Federal District Court Enters Default Judgment Based on NFT Service of Process - A federal district court judge in Florida entered a $2.2 million default judgment against a defendant on whom the judge previously authorized...more

Cadwalader, Wickersham & Taft LLP

In Depth: Regulation and Enforcement of the Digital Assets Markets, Part Two – Focus on Enforcement

In last week's Cabinet News and Views, we examined the U.S. regulators' approach to the digital asset space, with a focus on the assertion of jurisdiction by the CFTC, the SEC, prudential regulators, state executive and...more

Sheppard Mullin Richter & Hampton LLP

April 2022 Crypto Enforcement Actions And Regulatory Guidance Roundup

In April, we continued to see a steady pace in the seriousness and frequency of crypto enforcement actions by state and federal law enforcement.  (See our March 2022 Crypto Enforcement Actions Roundup blog here where we...more

Holland & Knight LLP

Avoiding Sticky Situations with Web3: DOJ, SEC Scrutiny of NFT and DeFi Projects Expected to Continue

Holland & Knight LLP on

Web3 is a term with a shifting, amorphous definition. In its current form, Web3 encompasses both decentralized platforms and the metaverse. Decentralized platforms offer services and assets that use distributed ledger...more

Proskauer - Blockchain and the Law

NFTs Are Interesting but Fractionalized Non-Fungible Tokens (F-NFTs) May Present Even More Challenging Legal Issues

Except for the extensive coverage surrounding Coinbase’s IPO last week and the volatility in the price of cryptocurrencies, much of the air in the crypto space in the last few months has been taken up by the meteoric rise of...more

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