regulation / 4 posts found

A Senator Is Calling for Google and Apple CEOs to Stymie Crypto Scams

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For all of Web3’s successes in celebrating diversity and raising funds for unquestionably noble causes, the Web3 space still has its fair share of bugbears — scammers. Thefts, rug pulls, and the like remain a distinct risk for anyone making their first steps into Web3. However, these bad actors don’t just look to target members of the crypto and NFT communities on their home turf via wash trades. Some have looked to gain access to users’ crypto wallets in a seemingly innocent way: via mobile apps. The lengths that scammers have gone to forcibly part users from their hard-earned crypto […]

Are NFTs Securities? A Guide to Global Policies

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Any digital asset, including non-fungible tokens (NFTs), can be classified by securities regulators as a “security.” But this begs the question of whether or not a prospective buyer is potentially subjecting themselves to a country’s securities law simply by buying and selling NFTs. The industry-wide expansion into the metaverse has opened the doors to associating and integrating digital assets into new virtual worlds, making it even more likely that these assets will eventually become commercialized and potentially subject to these securities laws. So, what do countries around the world have to say about NFT transactions and their characterization as a […]

Exclusive: The IRS and SEC Eye Crypto and NFT Regulation

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Will 2022 be the year of NFT regulation? With regulatory bodies and enforcement agencies in the U.S. paying close attention to the world of cryptocurrencies, digital assets, and the crimes committed within these spheres, it certainly looks like it might be. We’ve seen the FBI charge a former OpenSea employee with insider trading; the founders of the now infamous Frosties NFT project arrested for making off with $1.3 million in a rug pull; and Le Anh Tuan, founder of the doomed Baller Ape Club NFT project and community, charged with conspiracy to commit wire fraud, in addition to conspiracy to […]

U.K. Court Says Lawsuits Can Now Be Airdropped

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In the U.K., it’s okay to sue other people by airdropping their digital wallets with NFTs. Yes, you read that right. A judge in the U.K. granted permission to serve a person a lawsuit using a blockchain ledger via a nonfungible token ⁠— marking the first time an NFT gained the status of legal documentation in court proceedings this week in the country, according to court documents initially reported by Bloomberg. While a U.S. court made a similar decision to authorize lawsuit filings via NFTs in June, this means prized NFTs are becoming more normalized in court proceedings on an […]
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