Earlier this month, the U.S. Attorney's Office in the Southern District of New York announced insider trading charges against a former employee of OpenSea related to the trading of NFTs. This is the first time that insider trading charges have been brought based on any digital asset. In this video, Jeffrey Alberts, co-chair of Pryor Cashman's FinTech Group, discusses the nature of these criminal charges, how they differ from criminal charges that are based on the insider trading of securities, and what this means for companies and individuals that trade digital assets.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.