[cryptolaw_takeaway]NFTs raise complex legal questions spanning intellectual property, securities law, and consumer protection. While purchasing an NFT provides token ownership, it typically does not transfer copyright or other IP rights to underlying content. Fractional NFTs and NFTs with revenue-sharing features may constitute securities requiring registration.[/cryptolaw_takeaway] Understanding NFT Ownership Non-fungible tokens represent unique digital assets recorded…
[cryptolaw_takeaway]Cryptocurrency businesses that exchange, administer, or transmit virtual currency qualify as Money Services Businesses under FinCEN regulations. This classification triggers Bank Secrecy Act compliance obligations including registration, AML program implementation, suspicious activity reporting, and extensive recordkeeping. Civil penalties can reach millions of dollars, and criminal prosecution remains possible for willful violations.[/cryptolaw_takeaway] Money Services Business Classification…
[cryptolaw_takeaway]The CFTC has consistently classified Bitcoin, Ethereum, and other cryptocurrencies as commodities subject to Commodity Exchange Act jurisdiction. However, ongoing disputes with the SEC over jurisdiction create regulatory uncertainty. Recent legislative proposals aim to establish clearer boundaries between agency authority over digital assets.[/cryptolaw_takeaway] CFTC Commodity Classification The Commodity Futures Trading Commission has maintained since at…
[cryptolaw_takeaway]The Howey Test remains the SEC primary framework for classifying crypto assets as securities. Under this 1946 Supreme Court standard, a token is a security if it involves an investment of money in a common enterprise with an expectation of profits derived from the efforts of others. Recent enforcement actions against Ripple, Coinbase, and Binance…
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