Four States Coordinate Against Metaverse Casino’s NFT Sales

On Thursday, October 20th, state securities regulators from Alabama, Kentucky, New Jersey, and Texas filed coordinated enforcement actions to stop sales of non-fungible tokens (“NFTs”) by an organization in the country of Georgia. The actions accuse Slotie NFT (“Slotie”) of “illegally and fraudulently selling NFTs to raise capital relating to gaming in online and metaverse…

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European Union Agrees On Cryptocurrency Regulation, Excludes NFTs (For Now)

European Union policymakers have taken the next step toward enacting a scheme for regulating cryptocurrency and other blockchain-based assets, as the Council of the European Union and the European Parliament provisionally agreed to approve new rules governing Markets in Crypto-Assets (“MiCA”).  The new rules would address a range of risks related to cryptocurrencies and related…

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Ifrah Law At NFT.NYC: Insights and Discussions on NFT Gaming

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…

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Is My Crypto Safe if My Exchange Declares Bankruptcy?

Cryptocoins on trading app

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…

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Responsible Financial Innovation Act Proposal To Bolster CFTC Authority Over Crypto-Industry

Bitcoin in front of NYC Courthouse

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”)…

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