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NFTs: Key U.S. Legal Considerations for an Emerging Asset Class  

Author:  An P. Doan.; Richard J. Johnson.; Mark W. Rasmussen.; Courtney Lyons Snyder .; Joshua B. Sterlin & D. Grayson Yeargin.

Source: Volume 38, Number 04, Summer 2021 , pp.63-68(6)

Journal of Taxation of Investments

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Non-fungible tokens are an emerging digital asset class that present a unique set of commercial, regulatory, and other legal considerations. Key legal issues include how NFTs can be categorized, intellectual property rights, anti-money laundering and sanctions implications, cybersecurity concerns, and state laws governing virtual currencies. As the asset class matures, U.S. regulations and laws are catching up to the developments and increased interest in the technology—with other applicable global regulatory regimes already in place. Investors, financial services companies, and fintech companies in this space should consider key legal issues and make careful plans for exploiting potential opportunities. © 2021 Jones Day.

Keywords: nonfungible tokens (NFTs); blockchain; crypto; digital asset; fintech; intellectual property rights

Affiliations:  1: Jones Day; 2: Jones Day; 3: Jones Day; 4: Jones Day; 5: Jones Day.

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