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A Blog About Online Gaming and Entertainment Regulations

In the third year following its inaugural event in 2019, NFT.NYC held its NFT.NYC conference from June 20th to June 23rd, 2022. And Ifrah Law was in attendance, alongside more than 15,000 other attendees in addition to the conference’s 1,500 speakers.  Featuring educational programming and informational panels about various NFT-related topics across seven different venues surrounding Times Square, NFT.NYC hosted one and a half days worth of discussions on NFTs and gaming, an issue directly under the purview of Ifrah Law’s expertise in internet-Gaming and online entertainment regulations. Many of the discussions gravitated toward a few central topics in the gaming category—for instance, product building, monetization methods, and acquiring new players as well as retaining existing ones.  Crypto-Winter Optimism On the topic of product building, several panelists expressed optimism about the potential silver lining of the current “Crypto Winter,” which was forecasted earlier in the year pending fears of a global recession and which came into full effect in the week preceding NFT.NYC. In particular, the... Read more
Is My Crypto Safe if My Exchange Declares Bankruptcy?
July 14, 2022

Is My Crypto Safe if My Exchange Declares Bankruptcy?

By: George Calhoun and Jake Gray

Celsius Network LLC, one of the largest cryptocurrency lenders in the industry, filed for bankruptcy protection on Wednesday, July 13th. The filing comes just a month after the company halted customer withdrawals, swaps, and transfers “to stabilize liquidity” on account of extreme market conditions caused by a dive in cryptocurrency prices. As such, many crypto-investors… Read More

Bipartisan legislation introduced in the Senate last month would mark the federal government’s first foray into cryptocurrency regulation, and it could be a welcome development as the industry navigates a period of regulatory and commercial uncertainty. On June 7, 2022, Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Responsible Financial Innovation Act (“RFIA”)… Read More

As the legality of online sports wagering grows, so too does the level of advertising for such activities across the United States.  The biggest commodity for sports wagering operators is their market share, gained through growing a loyal customer base of wagers who continue to place wagers on their platform.  In order to increase their… Read More

Despite being the most widespread form of non-fiat money, cryptocurrency has struggled to gain traction as a broader means of exchange and payment, including in the internet gaming (“iGaming”) and sports betting industries. While there are no industry-wide standards for acceptable deposit methods, gaming regulators have tended toward two approaches, neither of which explicitly permits… Read More

As part of a rumored effort to lure the Kansas City Chiefs to move their stadium to the state of Kansas, late on April 28th, 2022, and extending into the earliest hours on the 29th, Kansas state lawmakers voted in favor of a bill to legalize mobile and retail sports betting.  Now, the bill is… Read More

The National College Athletic Association (“NCAA”) relaxed its long-established opposition to sports betting this Wednesday in a decision that will allow for the sale of data to sportsbooks. The decision comes in the same week that NCAA president Mark Emmert agreed to leave his role in the middle of his contract once a new president… Read More

This week, Maine’s state House and Senate both approved a bill that would legalize online and retail sports betting.  The legislation provides the state’s four federally recognized Indian tribes with a monopoly on mobile sports betting rights.  The state’s two casinos, the Oxford Casino and the Hollywood Casino and Raceway in Bangor have the ability,… Read More

The Pennsylvania Gaming Control Board (Board) issued a letter to enact a policy change to raise the ownership interest threshold from one percent to five percent for ownership interests held in privately-owned entities. This immediately impacts the licensing requirements of “principal” applications in Pennsylvania and is effective for both existing licensees (or pending applications) and… Read More

State regulators in three states took the first steps in regulating non-fungible tokens (“NFTs”) as securities, issuing cease-and-desist orders against the online casino developer Sand Vegas Casino Club (“Sand Vegas”) and its co-founders for allegedly offering unregistered securities and violating various other securities-related regulations. As we have written, NFTs use smart contracts to offer holders… Read More