Jason Gottlieb Discusses First NFT Insider Trading Case on Unchained Podcast
Partner Jason Gottlieb, chair of our Digital Assets Group, joined Unchained podcast host Laura Shin on June 3 to discuss the insider trading case against Nathaniel Chastain. Jason and Laura covered a lot of ground, including the importance of developing insider trading policies at cryptocurrency companies.
As Jason pointed out, these policies are common in the corporate world. Crypto companies should also adopt and enforce these kinds of policies, and employees should be mindful of their own trading. “If you’re working for a project and you know that your coin is about to pop… please, don’t trade. Talk to a lawyer; don’t get yourself in trouble here.”
As for the wider NFT space, Jason doesn’t think this particular case will have broader implications for the definition of NFTs as securities or commodities. The prosecutors in the Southern District of New York “are not taking any position on whether an NFT or an NFT drop … is or isn’t a securities offering. They’re not taking any position on whether an NFT itself is a commodity…They are focusing more on the nature of a fraudulent scheme. It doesn’t matter in this case whether it was an NFT…”
View the entire program here.
Contacts
- Jason P. Gottlieb Partner & Chair, Digital Assets; Chair, White Collar and Regulatory Enforcement
- jgottlieb@morrisoncohen.com
Related Practices
Our Digital Assets Group represents some of the largest and most significant names in the sector, drawing upon our depth of experience and comprehensive understanding of cryptocurrency, DeFi, DAOs and NFTs.
Our dynamic bench of business litigators defends corporations and individuals in complex, high-stakes matters in courts throughout the country.
Our business litigators possess the necessary skills to dissect complex financial instruments and agreements and present their analyses in clear, concise and persuasive terms.
Morrison Cohen handles a full range of securities matters, including complex, high-stakes securities litigations, in both federal and state trial and appellate courts, as well as before various arbitration and ADR forums, including FINRA and the AAA.
Our White Collar & Regulatory Enforcement Practice represents corporate entities and individuals in investigations brought by a wide array of governmental agencies, as well as exchanges and self-regulatory organizations.
Related Sectors
Our Digital Assets Group represents some of the largest and most significant names in the sector, drawing upon our depth of experience and comprehensive understanding of cryptocurrency, DeFi, DAOs and NFTs.
