securities
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German Federal Financial Supervisory Authority: In the regulatory sense, NFT has not been classified as securities
On March 8, the BaFin Journal of the German Federal Financial Supervisory Authority (BaFin) reported that in the regulatory review of NFT, the BaFin process is the same as the review of alternative tokens. So far, NFT has not been classified as securities in the regulatory sense, but it is not ruled out that NFT will be classified as securities in the future. For example, this may happen if 1000 NFTs contain the same repayment and interest requirements. In addition, NFT may be subject to anti-money laundering supervision by BaFin….
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The US District Court implied that NFT may be regarded as securities
On March 7, the U.S. District Court for the Southern District of New York recently confirmed for the first time that under certain circumstances, NFT can be recognized as a security under the Securities Act of 1933. Recently, the United States District Court for the Southern District of New York ruled on a class action lawsuit against the basketball theme NFT Moments. According to Howey’s test, the court recognized the NFT as an “investment contract” and rejected the defendant’s motion of rejection. The court pointed out that the plaintiff’s claim…
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Lawyer: Dapper Labs is difficult to win the Top Shot NFT class action case
According to reports, lawyers said that Dapper Labs might not succeed in the class action against its Top Shot NFT, and other projects should be paid attention to. Lawyers of Skadden, Arps, Slate, Meagher and Flom LLP in the United States said that the court decided last week to allow the class action accusing Top Shot moments of securities to continue to advance, which indicates how NFT might be treated in the future. There are two key factors in this case, namely Howey Test and Dapper Lab’s sole control over…
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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…
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The judge ruled in Dapper Labs case" Top Shot " NFTs may be securities
According to reports, a federal judge ruled on Wednesday that the issuance of the NBA brand “Top Shot” NFT of Dapper Labs may be securities. Interpretation of this information: The recent ruling by a federal judge on the NBA’s brand “Top Shot” NFT has raised questions regarding its classification as a security. An NFT or non-fungible token is a unique digital asset that is verified on a blockchain which provides proof of ownership and authenticity. Dapper Labs, the creator of “Top Shot,” has been selling these digital collectibles in the…
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The Korea Financial Supervision Institute has set up a task force to review virtual assets with securities attributes
On February 14, according to foreign media reports, the Korea Financial Supervision Institute began to directly review whether the virtual assets have the property of securities. The regulator set up a special working group on February 10 to support the determination of the security attributes of virtual assets in circulation in South Korea. This month, the task force will prepare a review list of security attributes of virtual assets, check the technical specificity of virtual assets and the relevance of security concepts, and start to discuss the security attributes based…
