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The first-ever digital asset indictment never refers to an NFT as a security, but it seeks to litigate it like one anyway.
June 24, 2022 at 01:06 PM
4 minute read
Legal Tech Reporter
Tacking onto the many “firsts” in the digital asset space, this month saw a leadoff non-fungible token (NFT) insider trading indictment from the Department of Justice, raising new possibilities about where exactly these blockchain-powered tokens fit in the current financial framework.
The question of whether an NFT is a security has come up several times, and United States of America v. Chastain in the U.S. District Court of the Southern District of New York brings the dispute back to the forefront.
By Jonathan Bick, Brach Eichler
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By Isha Marathe
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