The 9th US Circuit Court of Appeals rejected a lawsuit by Hodl Law against the SEC seeking to force the SEC to clarify its classification of ETH. Hodl Law failed to demonstrate a "real danger" of SEC enforcement action for its use of Ethereum and its tokens.
The court found that the SEC had not recognized ETH as a security and that Hodl Law had failed to provide evidence that the SEC had taken "final institutional action". Although the SEC has approved the spot ETH ETF, the legal status of ETH remains unclear. Hodl Law said it would continue to pursue legal avenues to obtain a clear answer.
The U.S. Court of Appeals has rejected a lawsuit by law firms asking the SEC to clarify the legal definition of ETH
2024-08-23 06:08:17
United states ninth circuit appellate court hodl law law firm needledesk3cryptocurrencydesktopCrypto News
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