Prosecutors want to claim NFTs as securities, alleges legal team of former Op...
“The government has brought the instant prosecution using ill-founded applications of criminal law to set precedent in the digital asset space,” said Nathaniel Chastain’s lawyers. Lawyers representing Nathaniel Chastain, the former OpenSea product manager accused of insider trading, have claimed United States authorities only filed charges in an attempt to set a legal precedent that nonfungible tokens (NFTs) are securities.In a Friday filing with the Southern District of New York court, Chastain’s legal team from Greenberg Traurig filed a motion to dismiss the indictment against him, which....
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Federal prosecutors have argued against a claim made by the former OpenSea product manager that the term “insider trading” is “inflammatory.” United States prosecutors have opposed a motion by a former employee of nonfungible token (NFT) marketplace OpenSea to remove “insider trading” references from his charges.Prosecutors said the phrase accurately describes the crimes the former OpenSea product manager Nathaniel Chastain is accused of in a memo filed on Oct. 14. It was responding to a motion by Chastain to stop referring to the phrase on Oct. 3, according to Law360.Chastain was charged....
In a significant move underscoring the evolving regulatory landscape surrounding cryptocurrencies, the US Securities and Exchange Commission (SEC) has turned its attention to the Non-Fungible Tokens (NFTs) market, initiating legal action against media and entertainment company Impact Theory. The SEC alleges that Impact Theory conducted an unregistered offering of crypto asset securities as Non-Fungible Tokens, […]
Formula One’s Miami Grand Prix featuring F1 Ethereum NFTs is happening next weekend. FTX, in partnership with F1 Team Mercedes, is set to release a powerhouse of NFTs available in premium action and free-to-claim formats. Suggested Reading | McLaren Turbocharges Into The Metaverse, Rolls Out MSO LAB F1 Team Speeds Things Up With FTX Today, […]
FTX founder’s legal saga continues as federal prosecutors question the authenticity of a retrial letter attributed to Sam Bankman-Fried (SBF) due to major inconsistencies in signature, address, and delivery method. Related Reading: Strait Of Hormuz Crisis Deepens After Trump Deadline – Crypto Markets Brace For Volatility SBF’s Retrial Motion Letter Under Scrutiny On Sunday, the […]
The commission has made similar allegations against Bybit, crypto exchange KuCoin and Polo Digital Assets. The Ontario Securities Commission claimed Aux Cayes FinTech Company Limited, a legal entity in the Republic of Seychelles that operates crypto exchange OKEx, has failed to comply with the province’s law governing securities.In an Aug. 18 notice, the Ontario Securities Commission, or OSC, alleged that Aux Cayes may have engaged in illegal activity and could face regulatory action if it fails to cooperate with authorities. According to the OSC, crypto asset products offered through OKEx....