Lexology PRO | Asia-Pacific, Brazil, China, etc. | 23 Nov 2023
Lexology PRO analyses the enforcement and rule change activity across capital markets over the last 6 months to identify key risk areas and trends for businesses.
FISCHER (FBC & Co.) | Israel | 19 Oct 2023
The Israeli Tax Authority (ITA) recently expressed its position regarding the classification of non-fungible tokens (NFTs) and determined that they are "assets" as defined in the Income Tax Ordinance (New Version) No. 5721-1961, but that this asset does not meet the definition of "movable property for personal use". This article discusses NFT taxation for both creators and investors.
Maćešić & Partners | Croatia | 26 Sep 2023
The world of virtual assets is undergoing a metamorphosis, and its impact resonates deeply within Croatia's financial market and fintech sector. Therefore, it is necessary to answer questions, such as whether non-fungible tokens (NFTs) are considered "virtual assets". Even though countries are trying to regulate NFT trading, due to the recent expansion of NFTs, it is hard to cover all aspects......
Gün + Partners | Turkey | 26 Sep 2023
In Turkey, non-fungible tokens (NFTs) are defined as "qualified intellectual property deeds" by the Digital Transformation Office of the Presidency and are not regulated with specific legislation, as is the case in the rest of the world. However, the Turkish courts and Patent and Trademark Office have started to deal with them.
Arnon, Tadmor-Levy | Israel | 26 Sep 2023
With emerging technologies, the phenomenon of non-fungible tokens (NFTs) has swept across the several sectors at a fast pace and with force. This article focuses on the legal and regulatory environment for NFTs in the Israeli financial market, delving into the classification of NFTs as securities and financial assets and examining the legal consequences associated with initiating an NFT......
RPC | United Kingdom | 26 Sep 2023
The judgment in Osbourne v Persons Unknown, handed down in March 2022, represents an important milestone in the history of cryptoasset disputes in the English courts. It held that non-fungible tokens (NFTs) are arguably property (replicating the judicial treatment of cryptocurrencies) and it remains one of only two reported NFT misappropriation judgments.
Smart & Biggar | Canada | 25 Sep 2023
The internet has developed into an essential part of virtually every business, from online sales, to software as a service, to online marketing. This has led to a corresponding rise in the type and volume of online IP risks and opportunities. It is critical that businesses have a basic understanding of how to maintain and enforce their IP rights online, and best practices to implement to......
Wiggin LLP | United Kingdom | 22 Sep 2023
What started as a way of immutably verifying ownership of otherwise copyable assets (eg, digital media) has grown into a true internet phenomenon. Non-fungible token (NFT) technology is developing rapidly and is increasingly used to verify ownership of a wide range of rights, such as virtual land ownership in the metaverse. While the idea may sound simple, the nuance of how these property......
BTG Advaya | India | 22 Sep 2023
The non-fungible token (NFT) market size in India is expected to record a compounded annualised growth of 61.6%, increasing from $3.3 billion in 2021 to $27 billion by 2028, as per publicly reported sources. However, amid this surge in popularity, the legal status of NFTs in India remains shrouded in uncertainty. This article analyses a recent Delhi High Court case on the use of public......
Phoenix Legal | India | 19 Sep 2023
From a banking and economic perspective, the role of non-fungible tokens (NFTs) can be considered an open-ended question. Specifically, the question is whether an NFT is genuinely an asset, or whether it is a modern-day regurgitation of the so-called "tulip-mania" occurrence of the 1600s. Despite this, it would be good to foster their development through appropriate regulation rather than......