Courtney E. Fisher

Dec 19, 2023 | lexology.com | Mark Bini |Hadas A. Jacobi |Kaela Dahan |Courtney E. Fisher

On December 15, 2023, the five-member U.S. Securities and Exchange Commission (“SEC” or “Commission”), in a 3-2 vote, denied a petition from Coinbase for new rules for the crypto industry. The divided vote was the latest installment in a long-running feud between Coinbase, the largest cryptocurrency exchange in the United States, and the SEC.

Sep 18, 2023 | jdsupra.com | Mark Bini |Kaela Dahan |Courtney E. Fisher

In the past two weeks, the U.S. Securities and Exchange Commission (“SEC”) announced two enforcement actions against non-fungible token (“NFT”) platforms Impact Theory, LLC (“Impact Theory”) and Stoner Cats 2, LLC (“SC2”), in connection with their unregistered offering of cryptocurrency asset securities.  In both enforcement actions, the SEC determined that the NFTs were securities under the Howey Test.