Washington, D.C , Tuesday, March 26, 2024 – There is widespread intellectual property (IP) infringement across various NFT (Non-Fungible Token) marketplaces, the US Copyright Office and the Trademark Office (USPTO) said, citing a study conducted jointly by them recently. 1
“While there is a clear need to address intellectual property issues within the NFT market, implementing specific legislation at this time may not be advisable,” the report released on March 12 said.
The US government cited the ongoing evolution of NFT technology and the lack of established trading standards within the market as primary reasons for caution, saying that IP infringement was commonplace in NFT markets.
It said there were concerns over trademark infringement and rights issues related to the creation and transfer of NFTs.
The decentralized nature of NFT marketplaces and the absence of standardized protocols across platforms were identified as significant challenges to enforcing intellectual property laws effectively.
- IP Infringement: https://www.ccn.com/news/nft-regulation-us-government-intellectual-property-laws/ [↩]
