Blockchain developer Flow settled a case on charges of selling unregistered securities

Flow blockchain developer Dapper Labs has settled a class-action lawsuit alleging that the firm violated securities laws by improperly selling digital items from the NBA Top Shot Moments NFT collection.

The company agreed to pay $4 million in compensation.

A court has ruled that NFTs from NBA Top Shot Moments are not securities.

Dapper Labs co-founder and CEO Roham Gharegozlu was also acquitted.

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