When is a Crypto Sale an Unregistered Securities Offering? Two SDNY Decisions Provide Conflicting Guidance
The cryptocurrency industry and its watchers are as keen as ever on gaining clear guidance on when, and how, the sale of a digital asset constitutes an unregistered securities offering. However, two recent SDNY cases considered this question and reached differing conclusions.
September 13, 2023 at 12:00 PM
7 minute read
As the Securities and Exchange Commission (SEC) continues to step up its enforcement activities in the cryptocurrency space, the industry and its watchers are as keen as ever on gaining clear guidance on when, and how, the sale of a digital asset constitutes an unregistered securities offering.
Two recent U.S. District Court for the Southern District of New York (SDNY) cases, SEC v. Ripple Labs and SEC v. Terraform Labs, considered this question and reached differing conclusions.
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