US Restrictions on Outbound Foreign Investment
On August 9, 2023, President Joe Biden issued a highly anticipated Executive Order on Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern (the “Executive Order”). The Executive Order...
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FTC Calls on Game Industry to Level Up COPPA Compliance
On June 5, 2023, technology giant Microsoft Corporation (“Microsoft”) settled with the Federal Trade Commission (the “FTC”) for a staggering US$20 million over violations of the Children’s Online Privacy Protection Act (“COPPA”). The settlement stems...
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China’s Approach to Regulating Artificial Intelligence
On July 10, 2023, the Cyberspace Administration of China, also known as the State Internet Information Office (国家互联网信息办公室), released the Interim Administrative Measures of Generative Artificial Intelligence Services (生成式人工智能服务管理暂行办法) (the “Generative AI Measures”). The Generative...
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SEC Deems 23 More Tokens Securities
In three complaints against the US’s most prominent digital asset trading platforms, Binance, Coinbase, and Bittrex, the US Securities and Exchange Commission (the “SEC”) alleged that 23 unique digital assets are securities, consisting of SOL,...
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When Do Money Transmitter Rules Apply to Blockchain Games?
Most video games rely on in-game virtual economies to incentivize player engagement and facilitate the exchange of in-game items. But virtual economies that extend beyond the boundaries of gameplay and into real-world financial markets may...
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Does Your Blockchain Game Loot Box Constitute Gambling?
Traditional web2 video games, or off-chain games, that feature loot boxes have frequently been accused of constituting a form of illegal gambling. Most US courts have ruled that gambling requires the possibility of earning rewards...
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Clone Games on Trial: What U.S. Copyright Law Protects
Video games are complex works of art that combine abstract ideas such as gameplay and functions with expressive elements such as music, scripts, plots, art, characters, and source code. However, copycat games that imitate and...
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America’s New Beneficial Ownership Reporting Regime
On January 1, 2021, Congress enacted the Anti-Money Laundering Act of 2020 (the “AMLA”) to combat money laundering and terrorist financing by expanding the regulatory power of the Financial Crimes Enforcement Network (“FinCEN”), a financial...
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Trends in China Game Approvals: The New Normal
Over the past four months, the National Press and Publication Administration (国家新闻出版署) (“NPPA”) issued four batches of domestic game approvals covering 345 games, and two batches of foreign game approvals covering 71 games. Although the...
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