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ARTICLE · 01 JULY 2022

First DOJ NFT Insider Trading Charges Mark New Enforcement Era

Wilson Elser Moskowitz Edelman & Dicker LLP
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The first indictment for an insider trading scheme involving non-fungible tokens (NFTs) shows how the DOJ and the NFT community worked together and will need to continue cooperating,...

United StatesTechnology
William Behr
William Behr
John P. Cahill
John P. Cahill
Jana S. Farmer
Jana S. Farmer
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The first indictment for an insider trading scheme involving non-fungible tokens (NFTs) shows how the DOJ and the NFT community worked together and will need to continue cooperating, explain Wilson Elser attorneys John Cahill, Jana S. Farmer, and William H. Behr. They describe how the case also may provide clarity on whether NFTs should be categorized as securities.

The Department of Justice is ramping up enforcement efforts with respect to the non-fungible token (NFT) marketplace, and recently brought the first indictment ever against a person for an alleged digital asset insider trading scheme.

Even with this increased enforcement, the DOJ will need to rely on the NFT community and recognized market experts to keep up with the developing sector.

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