News & Analysis as of

Casinos Non-Fungible Tokens (NFTs)

Nelson Mullins Riley & Scarborough LLP

Metaverse Casinos: A Regulatory Wild West

A New World of Gaming - The metaverse is an immersive online universe on the blockchain where users interact with a multitude of digital worlds and with each other. As in the real world, the metaverse offers a wide variety...more

BakerHostetler

New CBDC and NFT Data Released; OFAC Adds Mixer and Public Keys to SDN List; Multiple Crypto Enforcement Actions; Stablecoin Risks...

BakerHostetler on

BIS Releases Survey on CBDC Initiatives; New Crypto Products Launch - The Bank for International Settlements (BIS) recently released the results of its 2021 survey of central bank digital currencies (CBDCs). According to...more

Eversheds Sutherland (US) LLP

Company’s NFT gamble goes bust

On April 13, 2022, the Texas State Securities Board and Alabama Securities Commission issued separate emergency cease and desist orders (C&Ds) against Sand Vegas Casino Club and its two co-founders (Respondents). The C&Ds...more

Jones Day

Texas and Alabama Securities Regulators File Enforcement Actions Against Online Casino Developer Selling NFTs to Operate Casinos...

Jones Day on

In two first-of-their-kind enforcement actions relating to NFTs, securities regulators in Texas and Alabama ordered a Cyprus-based online casino developer and its founders to cease and desist selling NFTs that allegedly were...more

Skadden, Arps, Slate, Meagher & Flom LLP

Texas, Alabama Regulators Order Halt to Virtual Casino NFT Sales, Alleging They Constituted an Offering of Securities and Misled...

In the non-fungible tokens (NFT) space, many have focused their attention on how the Securities and Exchange Commission (SEC) may view these digital assets. However, state laws are important, as well, as evidenced by recent...more

Goodwin

Texas Securities Sheriff Wrangles Metaverse Gamblers

Goodwin on

Securities law enforcement entered the metaverse recently in the form of an emergency cease and desist order issued by the Texas State Securities Board against individuals and a company using NFTs to finance multiple...more

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