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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Is Your Blockchain Game Digital Asset a Security?
Investment in blockchain games persists, but developers face a fragmented, confusing, and ill-defined US regulatory environment. Absent comprehensive digital assets legislation from Congress, US federal and state agencies have been tasked with adapting existing legal...
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Legal Considerations for Generative AI in Games
On January 5, 2021, OpenAI launched DALL-E, a neural network trained on 250 million captioned images collected from the internet that could generate images based on natural language prompts. Since then, OpenAI has introduced DALL-E...
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FTC Proposes Ban on Non-Competes
On January 5, 2023, the Federal Trade Commission released a Notice of Proposed Rulemaking to prohibit employers from using contractual terms with workers that prevent such workers from seeking or accepting employment from another employer...
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