Hodl Law, PLLC v. Securities and Exchange Commission

I. FACTUAL BACKGROUND

2 Plaintiff is a law firm that purportedly focuses on legal and regulatory 3 issues regarding digital assets, also known as digital currency units (“DCUs”) and 4 cryptocurrencies. Plaintiff engages in transactional activity on the Ethereum 5 Network which requires use of the Ether DCU in order to conduct such 6 transactions. Plaintiff seeks a declaratory ruling from the Court that engaging in

7 transactional activities on the Ethereum Network using the Ether DCU does not 8 implicate the Securities Act of 1933, 15 U.S.C. § 77a et seq. II. PROCEDURAL BACKGROUND 10 On November 21, 2022, Plaintiff filed the Complaint in this action 11 asserting jurisdiction under the Declaratory Relief Act, 28 U.S.C. § 2201, Federal 12 Rule of Civil Procedure 57, 28 U.S.C. § 1331, and the Securities Act, 15 U.S.C. 13 §§ 77v and 78aa, and seeking declaratory relief. [ECF No. 1.] 14 On February 6, 2023, Defendant filed this Motion to Dismiss for lack of 15 Subject Matter Jurisdiction pursuant to Federal Rule of Civil Procedure 12(b)(1) . 16 (Mot. [ECF No. 5.]) On February 27, 2023, Plaintiff filed a Response in 17 Opposition. (Oppo. [ECF No. 6.]) On March 6, 2023,…