Artists sue SEC over confusing security status of NFTs
Attorneys representing the artists drew parallels to Taylor Swift concert tickets, which are often sold on the secondary market.
Two artists have sued the United States securities regulator seeking answers on whether nonfungible tokens fall under the commission’s authority.
Attorneys representing the plaintiffs — law professor and filmmaker Brian Frye and songwriter Jonathon Mann — sought clarification on which acts could trigger US securities laws when creating and selling NFT art.
Attorneys have asked whether artists need to “register” their NFT art before selling it to the public and whether they must make public disclosures about the “risks” of buying their art, the July 29 court filing shows.
Go to Source
Author: Brayden Lindrea
