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Insights

Oct. 28, 2024

Battle for the Planet of the Bored Apes: Regulation of Digital Assets

By Richard B. Levin, Matthew G. Lindenbaum, Robert L. Lindholm

Blockchain & Cryptocurrency Laws and Regulations 2025

Global Legal Insights

Richard Levin, Matthew Lindenbaum, and Robert Lindholm of the Nelson Mullins FinTech and Regulation Practice co-authored a chapter for the recently published, Blockchain & Cryptocurrency Laws and Regulations 2025 guide by Global Legal Insights. The chapter titled, “Battle for the Planet of the Bored Apes: Regulation of Digital Assets,” compares the violent struggle between apes and humans in the Planet of the Apes movies to the clash between the U.S. Securities and Exchange Commission (SEC) and the creators of digital assets and non-fungible tokens (NFTs). 

The chapter includes an introduction to blockchain technology and digital assets, and a discussion of: how digital assets can be deemed securities; the U.S. Securities and Exchange Commission’s use of enforcement as a means of regulating digital assets as securities; the regulation of trading platforms that facilitate the trading of digital assets that are securities; a petition for guidance on the regulation of digital assets and the platforms that facilitate the trading of digital assets; and a regulatory approach that would be preferred by the FinTech industry -  a constructive dialogue between the SEC and the FinTech industry through rulemaking that is subject to the Administrative Procedure Act (“APA”).

Levin is chair of the firm’s FinTech and Regulation Practice and one of the first lawyers to focus on the regulation of blockchain and digital assets. He is considered a thought leader in the FinTech space. Levin brings his experience as a senior legal and compliance officer on Wall Street and in London to bear in advising clients on FinTech, securities, and regulatory issues. He is routinely quoted by leading publications including Bloomberg, the New York Times, Reuters, and the Wall Street Journal and is a frequent speaker at conferences around the world on the regulation of FinTech, blockchain, and digital assets. 

Lindenbaum represents companies in high-stakes litigation with an emphasis on class action defense in the financial services and automotive industries, as well as the growing FinTech industry. He also defends companies and individuals in government investigations and enforcement actions involving the DOJ, the SEC, the CFPB, the OFAC, the CFTC, the OCC, the FDIC, the FINRA, and various state attorneys general, departments of financial services, and licensing agencies.

Lindholm focuses his practice on government investigations and white collar defense, high stakes business litigation and class action defense, and e-discovery and litigation readiness. He represents financial institutions, Fortune 500 companies, private equity firms, hedge funds, and companies/individuals involved in the cryptocurrency industry in a wide array of internal/government investigations and commercial litigation.