What if you had been waiting years to get judicial clarity on a legal issue, only to receive contradictory rulings from two different judges in the same court just weeks apart? This ironic outcome is what befell the crypto industry in two high-profile challenges to SEC enforcement actions regarding sales of crypto tokens.
In mid-July 2023, the crypto industry finally saw at least some judicial success in its long-running debate with SEC enforcement authorities over whether federal securities laws applied to sales of crypto tokens. In a mixed decision in SEC v. Ripple Labs, 2023 WL 4507900 (S.D.N.Y. July 13, 2023) (Torres, J.), the court held that the securities laws applied to some, but not all, sales of Ripple’s XRP token.
Robert A. Schwinger explores recent developments in this edition of his New York Law Journal Blockchain law column.
Download the full New York Law Journal article, "Crypto, the SEC and a tale of two judges."
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On 24 October 2024, the Court of Justice of the European Union (CJEU) confirmed that the European Commission’s (the EC) 2009 decision, which imposed a (then record) €1.06 billion fine on Intel, was flawed as far as it found that loyalty rebates granted by Intel had anti-competitive effects.
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The Dutch tax classification system for non-Dutch entities will undergo significant changes as of 1 January 2025.
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In King Crude Carriers SA & Ors v Ridgebury November LLC & Ors [2024] EWCA Civ 719 the Court of Appeal held that the claimant sellers (the Sellers) were entitled to claim the deposits promised under sale contracts as a debt despite the defendant buyers’ (the Buyers) breach of contract, which had resulted in the non-fulfilment of a condition precedent to the payment of the deposits.
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