In the Headlines
December 18, 2024
‘Badge of Honor’: SEC Targets CyberKongz in Token Registration Dispute
The National Law Journal
Litigation attorney Andrew Balthazor was quoted in an article published by The National Law Journal discussing the U.S. Securities and Exchange Commission's (SEC) latest regulatory actions against CyberKongz, a blockchain company in the gaming sector. The SEC issued a Wells notice to CyberKongz for allegedly failing to register a token as a security, a move that the company argues could have major implications across the Web3 gaming industry. The company has publicly defended its stance on social media, highlighting broader concerns about regulatory clarity in digital assets. Mr. Balthazor provided context for these federal enforcement actions in the industry.
"Three years ago, amidst the crypto winter of the FTX and Celsius failures, there was a hard look at virtually every major code-based project that could potentially be harming consumers by violating securities laws, and we’re seeing the fruits of it now," he said.
READ: ‘Badge of Honor’: SEC Targets CyberKongz in Token Registration Dispute (Subscription required)
"Three years ago, amidst the crypto winter of the FTX and Celsius failures, there was a hard look at virtually every major code-based project that could potentially be harming consumers by violating securities laws, and we’re seeing the fruits of it now," he said.
READ: ‘Badge of Honor’: SEC Targets CyberKongz in Token Registration Dispute (Subscription required)