Despite the minimal regulatory enforcement actions against blockchain game companies and NFT issuers, now is NOT the time to become complacent about regulatory issues. As indicated below, many U.S. agencies are increasing their focus on regulatory enforcements in the crypto space and NFTs are no exception. In 2022, we saw U.S. regulators ramp up staffing for more enforcements. All of this was happening before the FTX debacle. Things are only going to intensify in 2023 as a result of FTX. Some of the areas to remain focused on include the following.
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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