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In this week’s episode of The Legit Ledger, Sheppard Mullin
attorneys Jim Gatto and Gabe Khoury discuss the current state of
NFT regulation, including misconceptions regarding the regulatory
status of NFTs, the conditions under which an NFT might be
considered a security, which regulatory agencies market
participants should be watching, and more.
Thank you for listening!
What We Discussed in This Episode
- People frequently assume NFTs aren’t subject
to many of the same regulatory issues relevant to cryptocurrencies.
Is that assumption accurate? - Have there been any NFT-related regulatory
enforcement actions? - Has the SEC issued any guidance on NFTs?
- When might NFTs be subject to securities
laws? - How does FinCen’s guidance on the
applicability of the Bank Secrecy Act to convertible virtual
currencies apply to NFTs? - How does the Department of Treasury’s recent
study on the facilitation of money laundering and terrorist
financing through the art trade relate to NFTs? - Are there any sanctions-related issues that
apply to NFTs? - Many traditional video game companies have faced
lawsuits over the alleged use of gambling mechanics. How might the
growing use of NFTs in blockchain-based games play into that
trend?
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