Emojis Are Considered As Financial Advice According To U.S Judge

Feb 24, 2023

온라인 슬롯 사이트

Investigating NFTs

Judge Victor Marrero managed to surprise the public once more. First, the judge from the district court of the Southern District of New York refused to dismiss the case. He claimed that the NBA Top Shot NFTs share a lot of common traits with securities that need to be investigated. If the court rules that these NFTs are in fact securities, Dapper Labs will find itself in a lot of trouble.

Financial Advice – “Written” In Emojis

The second time Marrero caused a stir in the Web3 community was when he ruled that emojis . The news was published on Twitter by Lisa Braganca, a former United States Securities and Exchange Commission (SEC) branch chief. She warned the Twitter community that based on Marrero’s ruling, using emojis can have serious legal consequences from now on. Having created a precedent for this, Marrero also raised an interesting question: does free speech no longer apply to the usage of emojis?

Dangerous Precedent

This caused a huge uproar in the crypto community. The chief legal officer of Enjin, an NFT platform, wrote that this could create a dangerous precedent that would automatically make any NFT a security. The ruling is also questionable to say the least as it greatly restricts the users right to free speech. Oscar Franklin Tan said that “shitposts and emojis are part of free speech too”. The decision would annihilate this right to use them causing serious issues in the country.

Is the SEC Behind This?

The crypto community expressed its feelings in a great variety of ways toward the ruling. Some of them called the ruling “tragic” while others ridiculed the whole ordeal.

An attorney called out Marrero for making an absurd decision. Jake Chervinsky said that based on this ruling several companies that have nothing to do with finances can become a SEC-regulated company just for using emojis.

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