SEC Says Lawsuit From Crypto Law Firm Seeking Declaration Assets on Ethereum Not Securities Lacks Jurisdiction
This suit was surfaced by Law.com Radar. Read the complaint here.
February 07, 2023 at 07:41 PM
2 minute read
CryptocurrencyThe SEC is seeking to dismiss a lawsuit from a cryptocurrency law firm seeking a declaration that assets traded on Ethereum are not securities.
Mary Alexandra Verdi of the U.S. Securities and Exchange Commission has stepped in to fight a pending securities lawsuit. The complaint, filed Nov. 21 by Hodl Law, seeks a declaration that assets traded on the Ethereum Network are not "securities" and that trading on the platform does not constitute the "sale of unregistered securities."
In the motion to dismiss, Verdi said Hodl Law did not identify any actions the SEC has taken that "impose rights or obligations on it or any other person and does not identify any obligation that the SEC has to resolve the legal issues Hodl Law seeks to have this [c]ourt resolve," The SEC attorney wrote.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Law Firms Mentioned
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 4What We Know About the Kentucky Judge Killed in His Chambers
- 5'I'm Staying Everything': Texas Bankruptcy Judge Halts Talc Trials Against J&J
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250