Lara McMahon

Aug 7, 2023 | jdsupra.com | Marisa Antonelli |Rebecca Fike |Lara McMahon

On July 31, 2023, Judge Jed Rakoff of the Southern District of New York (“SDNY”) sided with the Securities Exchange Commission in SEC v. Terraform Labs Pte. Ltd. by holding that sales of crypto assets to retail investors on public marketplaces amounted to a sale of “securities” subject to the SEC’s registration requirements.1 In doing so, he is the first judge to disagree with fellow SDNY Judge Analisa Torres’s recent decision in SEC v.

Jul 24, 2023 | jdsupra.com | Marisa Antonelli |Rebecca Fike |Lara McMahon

On July 13, 2023, a decision by Federal District Judge Analisa Torres of the Southern District of New York dealt a significant blow to the Securities and Exchange Commission’s enforcement efforts in the crypto space by holding that Ripple Labs, Inc.’s sale of crypto tokens on public exchanges was not a sale of unregistered securities because, in that situation, the tokens themselves were not securities.1 While the decision is undoubtedly a win for the crypto industry, Judge Torres did side...

Jul 13, 2023 | velaw.com | Rebecca Fike |Marisa Antonelli |Patrick Wroe |Lara McMahon

By Rebecca Fike, Marisa Antonelli, Patrick Wroe, and Lara McMahon On July 13, 2023, a decision by Federal District Judge Analisa Torres of the Southern District of New York dealt a significant blow to the Securities and Exchange Commission’s enforcement efforts in the crypto space by holding that Ripple Labs, Inc.’s sale of crypto tokens on public exchanges was not a sale of unregistered securities because, in that situation, the tokens themselves were not securities.1 While the decision is...