-
Abstract
The relative newness of non-fungible tokens combined with their complex nature has led to an unclear response from U.S. regulators. The incomplete regulatory scheme has left the market open to the various forms of bad actors common among financial asset classes. Within this article we evaluate the current regulatory status of the cryptocurrency markets and their applicability to NFT Markets. Regulators who are most active in the crypto space include the SEC, CFTC, CFP, and FTC. Because regulatory power is vested differently among the various regulators there exists an inability of any one regulator to adequately address the complex nature of NFTs. To address this inadequacy this article argues that the dispersed regulatory powers should all be granted to the SEC due to its express interest in regulating digital asset markets.
European Journal of Law Reform |
|
Article | The Regulatory Response and the Current and Future Legal Status |
Keywords | non-fungible tokens, Crypto, Digital Assets, securities regulations, Securities and Exchange Commission |
Authors | Kaleb Britton |
DOI | 10.5553/EJLR/138723702023025001012 |
Author's information |
Purchase access
You can purchase online access to this article. You will receive 24 hrs access @ € 17,50 (excl. VAT).
24 hrs access | € 17,50 (excl. VAT) |
Activate your code
If you have an access code, please activate it here.