In this episode of the Legit Ledger, Sheppard Mullin attorney Jim Gatto joins Yasamin Parsafar to provide an overview of his recent article, NFT Regulatory Issues – a 2022 Review and 2023 Preview, discussing the latest with NFTs and the SEC and other issues.
What We Discussed in This Episode:
- What are fractional NFTs? Why might they lead to securities issues?
- How can companies selling NFTs or offering platforms where NFTs are minted, sold or traded avoid triggering securities fraud charges?
- What is the potential personal liability for anyone employed by a company involved in the minting, selling or trading of NFTs?
- Why should these types of companies consider implementing an insider trading policy?
- What are your thoughts about last year's Treasury Department study that identified high-value art (including NFTs) as vehicles for money laundering and terrorist financing?
- What prompted the OFAC to sanction an exchange and designate 57 cryptocurrency addresses associated with digital wallets as SDNs?
- What topics are the USPTO and Copyright Office considering as part of their joint study on IP law and policy in relation to NFTs?
- How do the SEC and FTC endorsement guidelines differ?
- What might 2023 have in store for NFT regulation?
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