In an unprecedented move, two artists have filed a lawsuit against the U.S. Securities and Exchange Commission, challenging the agency’s authority to regulate NFTs or non-fungible tokens.
Musician Jonathan Mann and artist and law professor Brian L. Frye filed a civil complaint in the U.S. District Court, Eastern District of Louisiana, on July 29.
“This case is about art,” the claim reads. “More specifically, should art be regulated by the Securities and Exchange Commission? Should artists have to ‘register’ their artwork before selling it to the general public?”
Learn more about this topic by Eileen Kinsella as seen on artnet.
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