Blockchain Affiliation’s chief authorized officer says “it might be absurd” for a United States court docket to rule that digital belongings on non-public blockchains are securities, following a federal decide’s resolution to permit a lawsuit in opposition to Dapper Labs’s NBA High Pictures NFTs to play out.

U.S. legal professional Jake Chervinsky made the remark after federal decide Victor Marreo denied a movement to dismiss a 2021 lawsuit that accused Dapper Labs of promoting nonfungible tokens (NFTs) as unregistered securities.