U.S Federal Court Rules Bored Ape Yacht Club NFTs and ApeCoin Are Not Securities
The U.S. federal court has ruled that Bored Ape Yacht Club (BAYC) NFTs and ApeCoin do not meet the legal definition of securities. The verdict, delivered by Judge Fernando M. Olguin in California, dismissed a 2022 investor lawsuit accusing Yuga Labs, the creator of BAYC, of selling unregistered secu…