U.S. Court Rules BAYC NFTs and ApeCoin Are Not Securities

In a landmark decision, the U.S. court has dismissed a long-standing lawsuit against Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) NFTs and ApeCoin. The ruling confirms that these assets do not qualify as securities under U.S. law, limiting the SEC’s authority over digital collectibles. The decision, delivered by Judge Fernando M. Olguin in California, finds no common enterprise or profit expectation linking Yuga Labs to NFT holders.