Sarah Levine

Sep 7, 2023 | jdsupra.com | Michael Butowsky |Sarah Levine |Mark Rasmussen

On August 29, 2023, the Court of Appeals for the District of Columbia Circuit granted a petition from Grayscale Investments, LLC, vacating the SEC's order denying Grayscale's request to approve the exchange listing of its bitcoin ETP. The case represents a win for Grayscale on an administrative law challenge.

Sep 7, 2023 | jdsupra.com | Michael Gallagher |Dorothy Giobbe |Sarah Levine

Two SEC commissioners dissented and urged the Commission to provide further guidance on non-fungible tokens ("NFTs"). The U.S. Securities and Exchange Commission has brought its first enforcement action against sellers of NFTs.Impact Theory, the seller, agreed to settle the matter with the SEC by, among other things, destroying the NFTs and paying more than $6 million in disgorgement, prejudgment interest, and penalties.

Sep 6, 2023 | mondaq.com | Michael Butowsky |Sarah Levine |Mark Rasmussen |Brett A. Shumate

The D.C. Circuit rebuked the U.S. Securities and Exchange Commission ("SEC") on administrative law grounds but left untouched the test the Agency used to deny proposed bitcoin exchange traded products ("ETP"). On August 29, 2023, the Court of Appeals for the District of Columbia Circuit granted a petition from Grayscale Investments, LLC, vacating the SEC's order denying Grayscale's request to approve the exchange listing of its bitcoin ETP.

Sep 6, 2023 | mondaq.com | Dorothy Giobbe |Sarah Levine |David Peavler |Mark Rasmussen

Two SEC commissioners dissented and urged the Commission to provide further guidance on non-fungible tokens ("NFTs"). The U.S. Securities and Exchange Commission has brought its first enforcement action against sellers of NFTs. Impact Theory, the seller, agreed to settle the matter with the SEC by, among other things, destroying the NFTs and paying more than $6 million in disgorgement, prejudgment interest, and penalties.

Aug 18, 2023 | mondaq.com | Abradat Kamalpour |Sarah Levine |David Peavler |Laura Pruitt

The Situation: Recently, two judges in Southern District of New York were required to apply the Howey test in separate cases to decide whether sales of certain crypto assets were investment contracts, and thus securities.