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A federal appeals court has overturned the conviction of Nathaniel Chastain, a former OpenSea product manager, in the first U.S. insider trading case involving digital assets. The ruling highlights legal uncertainties in applying traditional fraud laws to crypto markets.
- First U.S. NFT insider trading conviction overturned due to flawed jury instructions.
- Case tested whether traditional fraud laws apply to crypto market activities.
- Ruling may set precedent for future digital asset enforcement actions.
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