Court Rules BAYC NFTs and ApeCoin Are Not Securities
5d ago•
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The post Court Rules BAYC NFTs and ApeCoin Are Not Securities appeared first on Coinpedia Fintech News
A federal judge in California has dismissed an investor lawsuit against Yuga Labs, stating that Bored Ape Yacht Club NFTs and ApeCoin don’t qualify as securities. The court determined that the plaintiffs failed to meet the Howey test’s criteria. It concluded that BAYC NFTs serve as digital collectibles offering community access and membership perks, not as investment vehicles.
5d ago•
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