Federal Court Rules BAYC NFTs and ApeCoin Not Securities

A U.S. federal court has issued a major victory for the NFT industry by declaring that Bored Ape Yacht Club (BAYC) NFTs and ApeCoin are not securities, effectively clarifying their legal status. Judge Fernando M. Olguin in California dismissed a 2022 lawsuit alleging Yuga Labs improperly sold securities and misled investors. This decision offers significant benefits to Yuga Labs and has broader implications for the regulatory classification of NFTs as a whole.