Crypto Law

Lawyer | NFTs | Metaverse | Web3 No legal/financial advice. Opinions are my own. Awarded 2022 ‘Most Expert Handling of the Law and NFTs’ Award

[Crypto Law @nftlawguy]

@TheFFBallers Chris Olove you

[Crypto Law @nftlawguy]

California is in the process of passing a new bill (AB 1052) that would require holders of cryptocurrency to turn over the cryptocurrency to the state if it is “presumed abandoned.” Many states have already passed bills like this. Message me if you’d like to learn more.

[Crypto Law @nftlawguy]

Seeing a lot of posts wrongly explaining what the overturning of Chevron means. It does not prohibit an agency from interpreting a statute. It guards against blind deference to that interpretation.

[Crypto Law @nftlawguy]

BREAKING: The Supreme Court overturns the Chevron case, increasing the burden on the implementation of regulations. This is a huge win for crypto and all regulated areas. Opinion here: https://t.co/nGHP3bHOMf

[Crypto Law @nftlawguy]

UPDATE: On July 1, 2024, California's prohibition on "drip pricing" becomes effective. Advertising a price that does not include all "mandatory fees or charges" other than taxes and postage/carrier charges will be deemed an unfair method of competition and deceptive act.

[Crypto Law @nftlawguy]

What is the biggest legal issue crypto startups face today? Regulatory, tax, IP, other?

[Crypto Law @nftlawguy]

@andrekarchemsky Hahaha. The real question is whether Mike Tyson is still favored?

[Crypto Law @nftlawguy]

Did you know that crypto on centralized exchanges can be taken and liquidated by states?

[Crypto Law @nftlawguy]

Did you know states hold your unclaimed property until you claim it? This includes liquidated stocks, crypto, checks, gift card balances, and much more.

[Crypto Law @nftlawguy]

For those who store crypto on centralized exchanges, check on your accounts. Unclaimed property laws require these exchanges to report and provide the property to the state if the account is dormant for the statutory period. The state will then liquidate the crypto.

[Crypto Law @nftlawguy]

Metabirkin NFT found to be infringing the Hermès trademark by the jury. Big news.

[Crypto Law @nftlawguy]

Have you seen more or less “copycat” NFTs?

I’m seeing less, but unclear if from the recent success of some IP NFT cases or simply because the market is down. Perhaps both?

[Crypto Law @nftlawguy]

2022 was the year that introductory NFT-centric law was created. 2023 will be the year that develops the nuance.

[Crypto Law @nftlawguy]

@FrankiRaine @ArtemysiaX @dynalations @CloneLaw @sh3k1n4h Happy to help!

[Crypto Law @nftlawguy]

The Yuga Labs - Ryder Ripps lawsuit is shaping up to be an immense battle. Fenwick & West (Yuga’s hired law firm) and WilmerHale (Ryder’s hired law firm) are both excellent. Looking forward to this precedent-setting case

[Crypto Law @nftlawguy]

@alexamil_ Happy to help

[Crypto Law @nftlawguy]

@kielchirps @BirdnalsNFT Digital art is copyrightable. The US Copyright Office has recently said that AI generated art is not copyrightable

[Crypto Law @nftlawguy]

@eliana_esq @BirdnalsNFT I understand that. Again, there is a reason BAYC’s TOS are ambiguous. They don’t want to point blank say we grant “non-exclusive” licenses which would be inconsistent with the other part: “When you purchase an NFT, you own the underlying Bored Ape, the Art, completely.”

[Crypto Law @nftlawguy]

@eliana_esq @BirdnalsNFT Third, the TOS is incomprehensible. It’s completely unclear what rights you have

[Crypto Law @nftlawguy]

@eliana_esq @BirdnalsNFT First, it literally doesn’t say that. The word non-exclusive is not in the TOS. Second, it’s actuality the opposite: “unlimited, worldwide license”