United States: Are Crypto Tokens Securities? Terraform Court Says 'Yes' In Extensive Decision - Akin Gump Strauss Hauer & Feld LLP

On December 28, 2023, less than a year after the commencement of a lawsuit by the U.S. Securities and Exchange Commission (SEC), Judge Jed S. Rakoff of the Southern District of New York granted summary judgment for the SEC in its case against Terraform Labs and one of its co-founders.