Carrie M. Stickel, left, and Matthew F. Kluchenek, right, partners with Katten Muchin Rosenman. Courtesy photos Bitnomial Exchange Preemptively Sues SEC Over Alleged Enforcement Conflict With CFTC
"This is about future contracts and who has jurisdiction over the trading of futures contracts," said Matthew F. Kluchenek, a partner at Katten Muchin Rosenman.
October 11, 2024 at 02:21 PM
4 minute read
The original version of this story was published on National Law Journal
What You Need to Know
- Bitnomial Exchange preemptively sued the U.S. Securities and Exchange Commission.
- The crypto exchange seeks a declaration from a federal district court that the Ripple future contracts sold on its platform are not security futures.
- An Am Law 100 firm represents Bitnomial.
An exchange for margined and physically deliverable digital asset futures and options sued the U.S. Securities and Exchange Commission to seek a declaration from a federal district court in Illinois that its Ripple futures contracts are not security futures.
Matthew F. Kluchenek and Carrie M. Stickel, partners at Katten Muchin Rosenman in Chicago, are the lead attorneys for Bitnomial Exchange LLC in its complaint against the defendant, the SEC, which is asserting jurisdiction over a product the plaintiff said is regulated by and subject to the exclusive jurisdiction of the Commodity Futures Trading Commission.
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