Legal expert: The judge’s judgment is a very good decision in the lawsuit filed against Dapper’s accusation of violating the securities law

It is reported that Dapper tried to dismiss the lawsuit filed against the company for violating the securities law when providing NBA Top Shot NFT Moments. Victor Marrero, a federal judge in Manhattan, rejected Dapper’s motion of rejection because he found that the argument of marking Top Shot NFT as a security was reasonable, which was the first time in this new technology.

Interpretation of this information:

The message reports on Dapper’s attempt to dismiss a lawsuit that alleged the company had violated securities laws when offering its NBA Top Shot NFT Moments. However, Victor Marrero, a federal judge in Manhattan, did not grant Dapper’s motion to dismiss the lawsuit. Instead, the judge found that the argument that the NFTs could be considered securities was reasonable, marking the first time such a ruling has been made in relation to NFTs.

This development sheds light on the ongoing debate over whether NFTs are subject to securities laws. The case may have significant implications for the future of the cryptocurrency market, not just in the United States but also around the world.

On the one hand, this ruling could lead to increased regulation that may limit the potential of NFTs and restrict their growth in the market. On the other hand, it could also provide greater legal clarity which can be a boon for the industry participants in the long run.

Despite the potential impact on the industry, the court case remains ongoing. Dapper may still respond and defend its position before the lawsuit moves forward. Whether or not the case results in a verdict against Dapper, it could set a precedent for future legal challenges related to NFTs and their regulatory status.