Derived from Coinpedia, a U.S. federal court ruled that Bored Ape Yacht Club (BAYC) NFTs and ApeCoin are not securities. The decision, issued by Judge Fernando M. Olguin in California, dismissed a 2022 lawsuit that accused Yuga Labs of selling unregistered securities. The court found that BAYC NFTs and ApeCoin did not meet the Howey Test criteria for securities, emphasizing that they were marketed as collectibles rather than financial investments.
U.S. Court Rules Bored Ape Yacht Club NFTs and ApeCoin Are Not Securities
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