Sidley is representing the Chamber of Digital Commerce in connection with its amicus curiae brief in the SEC v. Telegram case currently pending in the Southern District of New York. The Chamber submitted a motion for leave to file its amicus brief in this case to be a true “friend of the court” and provide a legal framework based on settled SEC jurisprudence to create a predictable legal environment for the blockchain industry.
This pivotal case hinges on the Court’s application of the correct analytical framework to digital assets. The decision in this case will have far reaching implications for blockchain market participants, including investors, trading platforms, and technology companies that seek to facilitate both securities and commercial transactions in digital assets. The Chamber’s proposed brief sets forth the applicable legal standard and implications of the Court’s decision in setting a precedent for the entire industry.
The New York-based Sidley team is led by partner Lilya Tessler, with assistance from associates Daniel Engoren, Verity Van Tassel Richards and Francesca Brody.