Apertum wins major lawsuit against Texas State Securities Board in landmark victory for DeFi
Main Idea
The Texas State Securities Board (TSSB) has dismissed its case against Apertum’s DAO1 platform and APTM token, marking a significant development in cryptocurrency litigation and regulatory shifts.
Key Points
1. The TSSB dropped claims that Apertum’s DAO1 platform and APTM token violated U.S. securities laws.
2. Apertum Foundation, represented by Quinn Emanuel Urquhart & Sullivan, LLP, defended its platform as compliant and safe.
3. The dismissal sets a precedent for other DeFi platforms amid a shifting regulatory environment for digital assets in the U.S.
4. Legal representatives praised the TSSB for reversing its stance and acknowledged the case as unfounded.
Description
The Texas State Securities Board (TSSB) has formally dropped its case against the Apertum Foundation and its senior advisor, Josip Heit, a move that could shape the future of cryptocurrency litigation. Notably, the decision ends claims that Apertum’s DAO1 platform and APTM token were unregistered securities, while affirming they do not qualify as investment contracts under U.S. law. Represented by Quinn Emanuel Urquhart & Sullivan, LLP, the Apertum Foundation successfully argued that its platfor...
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