The Greenberg Traurig team representing a former non-fungible token—or NFT—marketplace employee on Friday filed a motion to dismiss his indictment in the Southern District of New York, arguing that he could not have committed insider trading because NFTs are “neither securities nor commodities.”

The U.S. Attorney’s Office for the Southern District of New York described former OpenSea product manager Nathaniel Chastain’s arrest in June as the first-ever arrest in a digital asset insider trading scheme. Chastain was charged with wire fraud and money laundering for allegedly using his knowledge of OpenSea’s confidential business information for his personal financial gain.