* Our Parent Company Crypto Token is LIVE!!! *Flag Token

Government Regulators Are Zeroing in on the Metaverse. Digital Art Could Get Caught in the Middle

Date:

Share post:

Every Wednesday, Artnet News brings you The Gray Market. The column decodes important stories from the previous week—and offers unparalleled insight into the inner workings of the art industry in the process.

This week, on new art’s chances of attracting new scrutiny…

 

REIN MAKERS

In recent generations, the global art market has become infamous for pairing a small set of industry-specific regulations with a startling amount of money changing hands year to year. But as artists, art sellers, and intermediaries explore how they might integrate into the metaverse, the much-hyped next phase of online life, their relative freedom from government scrutiny in this new territory is in far more danger than many art professionals realize. 

Almost a year ago, a variety of lawmakers across continents began quietly circling the metaverse as an area worth regulatory attention. The succeeding months haven’t just seen officials in the U.S. and E.U. go public with their concerns. Regulators have now made formal commitments to shape the metaverse—even as developers and…

Read more…

Related articles

How to Become a Blockchain Developer

It’s been a rough year for cryptocurrencies, with the collapse of crypto-centric companies like FTX forcing coin prices...

Bitcoin UTXOs Older Than 5 Years Surged During Bear Market

UTXO or unspent transaction output is the amount of bitcoin someone is left with after executing a transaction. Read...

DailyPay Announces $260 Million in New Funding

DailyPay announced it has secured $260 million of capital to fuel growth domestically, expand internationally and further invest...

India Keeps Restrictive Crypto Tax Rules in 2023 Budget

India has kept its restrictive crypto tax rules unchanged in 2023. In fact, Finance Minister Nirmala Sitharaman did...