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On September 7th, 2023, the U.S. Commodity Futures Trading Commission (“CFTC”) announced settlement orders against three operators of decentralized finance (“DeFi”) protocols: Opyn, Inc. (“Opyn”), Deridex, Inc. (“Deridex”), and ZeroEx, Inc. (“ZeroEx”).  The announcement is a clear message that the CFTC will be asserting jurisdiction in the DeFi space, and may be as much a

We recently reported on the first NFT enforcement action brought by the U.S. Securities and Exchange Commission.  On September 13, 2023, the Commission brought its second, against  Stoner Cats 2 LLC (SC2), the entity responsible for the cartoon series Stoner Cats.  The animated Web3 series featured the voices of Ashton Kutcher, Mila Kunis, Chris Rock,

We previously reported on the Friel v Dapper Labs decision, which was a first-of-its-kind  decision in the U.S. courts, holding that an NFT (non-fungible token) can be a security under U.S. securities law.  On August 28, 2023, the U.S. Securities and Exchange Commission brought its first NFT enforcement action, against Impact Theory, LLC, a media

We have previously reported on U.S. Securities and Exchange Commission cases against influencers for violating the anti-touting statute.  On August 22, 2023, the SEC announced settled charges against Washington, D.C.-based investment adviser Fundrise Advisors, LLC arising from the firm’s solicitation arrangements with online content creators.

The following information is taken from the Order.  Fundrise