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Scott Mascianica & Jessica Magee

Enforcement Imperialism or Applying Precedent? SEC’s NFT Enforcement Actions Reignite Digital Asset Debate

Overreach. Jurisdictional landgrab. Regulation by enforcement. These terms and expressions — and many more “colorful” turns of phrase — are used by some to describe the Securities and Exchange Commission’s approach to enforcement at the intersection of digital assets and the federal securities laws. The SEC has repeatedly rejected such claims and has yet to act upon industry calls for increased clarity and guidance.

But it is the SEC’s most recent enforcement actions — its first two cases involving nonfungible tokens — that have yet again brought forth the SEC’s critics. What should we make of these first-of-their-kind enforcement actions? Doesn’t the lack of fungibility of NFTs move these tokens outside the SEC’s jurisdictional reach, making this the latest example of overreach? Or are these matters simply the latest actions in line with the SEC’s longstanding enforcement approach?

September 28, 2023 Scott Mascianica & Jessica Magee

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Features

  • P.S. — Litigation Boutique Partner, Once a Teen Advocate for the Texas Dream Act, Now Fights to Save it in Court  - He was once a Texas student with no more than a visa to be in the U.S. who coincidentally helped pass landmark tuition law. Now, Lynn Pinker Hurst & Schwegmann partner Andrés Correa is at the forefront of a legal battle to stop its repeal following a swift federal court ruling. June 27, 2025Krista Torralva

GCs, Lawyers & Firms

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Richard Finneran
Elizabeth Freeman
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Elizabeth Gibson
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Frank Lopez
Abbe Lowell
Neal Manne
Billy Marsh
Tom Melsheimer
Tasha Moser
Justin Nelson
Reed O'Connor
Kate Pennartz
John “J.” Pieratt
Danielle Reyes
Christopher Richardson
Randy Sorrels
Harry Susman
Larry Vincent
Victor Vital
Brent Walker
Matt Weybrecht
Melody Wilkinson
Alex Wolens

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Cozen O'Connor
Haynes Boone
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King & Spalding
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Law Office of Liz Freeman
Paul Hastings
Porter Hedges
Sorrels Law
Susman Godfrey
Toyota
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Willkie
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Weil
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