Following the decision of a federal judge to allow a lawsuit against Dapper Labs’ NBA Top Shot nonfungible tokens (NFTs) to go forward, the chief legal officer of the Blockchain Association stated that “it would be absurd” for a United States court to rule that digital assets on private blockchains are securities. This statement was made in response to the judge’s decision to allow the lawsuit to go forward.
U.S. attorney Jake Chervinsky issued a statement after a federal court refused a move to dismiss a 2021 lawsuit claiming Dapper Labs of marketing NFTs as unregistered securities. The ruling prompted Chervinsky’s comments.
Chervinsky was one of a number of attorneys who posted on Twitter to repeat that the judge’s rejection of the motion does not indicate that a decision has been reached about the complaint; rather, it just indicates that the lawsuit was “facially plausible.”
“The judge didn’t make any decisions at all. Because…
