NFT Boom Brings Regulatory Risks + FARA Targets a Casino Magnate + The Latest Who Got the Work – Law.com

nft-boom-brings-regulatory-risks-+-fara-targets-a-casino-magnate-+-the-latest-who-got-the-work-–-law.com

Welcome to Compliance Hot Spots, our weekly snapshot on white-collar, regulatory and compliance news and trends. The D.C. legal community is closely watching the trial of former Perkins Coie partner Michael Sussmann. Read my coverage of opening arguments here. Today, we outline the regulatory and enforcement risks associated with the growth of the NFT market. Plus, DOJ brings a rare civil FARA action against a high-profile defendant and the DOJ and SEC bring the hammer down on an Allianz subsidiary. Contact me at [email protected] and @AGoudsward on Twitter.

Screenshot of non-fungible token images. A non-fungible token (NFT) is a special type of cryptographic token that represents something unique. Credit: Rokas Tenys/Shutterstock.com

NFT Uses Multiply—And So Do the Regulatory Risks

The market for non-fungible tokens—known as NFTs—has soared in recent years, expanding to a multibillion-dollar market that’s generated countless get-rich-quick schemes and exclusive celebrity giveaways.

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