A federal judge has dismissed a high-profile lawsuit against Yuga Labs, the company behind Bored Ape Yacht Club (BAYC), ruling that its NFTs do not meet the legal threshold to be considered securities. Key Takeaways: A US judge ruled that BAYC NFTs and ApeCoin do not qualify as securities under the Howey Test. The court found no common enterprise or profit expectation linking buyers to Yuga Labs. The decision sets a precedent supporting NFTs as digital collectibles rather than investment contracts. ...

A U.S. federal judge in California has dismissed an investor lawsuit against Yuga Labs, ruling that its Bored Ape Yacht Club (BAYC) NFTs and ApeCoin do not constitute securities. The court stated that the plaintiffs failed to prove the three prongs of the Howey test, affirming that BAYC NFTs are digital collectibles with membership benefits rather than investment instruments.https://t.co/oF7KJMPcFG ...