News & Analysis as of

Cease and Desist Orders Casinos

Eversheds Sutherland (US) LLP

Company’s NFT gamble goes bust

On April 13, 2022, the Texas State Securities Board and Alabama Securities Commission issued separate emergency cease and desist orders (C&Ds) against Sand Vegas Casino Club and its two co-founders (Respondents). The C&Ds...more

Skadden, Arps, Slate, Meagher & Flom LLP

Texas, Alabama Regulators Order Halt to Virtual Casino NFT Sales, Alleging They Constituted an Offering of Securities and Misled...

In the non-fungible tokens (NFT) space, many have focused their attention on how the Securities and Exchange Commission (SEC) may view these digital assets. However, state laws are important, as well, as evidenced by recent...more

Goodwin

Texas Securities Sheriff Wrangles Metaverse Gamblers

Goodwin on

Securities law enforcement entered the metaverse recently in the form of an emergency cease and desist order issued by the Texas State Securities Board against individuals and a company using NFTs to finance multiple...more

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