Yesterday, the U.S. Copyright Office (USCO) and U.S. Patent and Trademark Office (USPTO) announced a joint study on IP issues related to NFTs. This follows a Congressional request by senators Leahy and Tillis that the Offices explore these issues. Today, the Offices will publish a Notice of Inquiry (unpublished version can be found here), with a notice-and-comment period to follow, seeking stakeholder/private industry feedback on the following topics:
In today’s News of Note, we explore ransomware-as-a-service profits, the continued untangling of IP issues with NFTs, the prospect of scented virtual reality experiences, the development of a humanoid robot, and much more.
Is Russia’s invasion of Ukraine altering the landscape of the internet? Can AI help historians decipher ancient texts? How did two siblings allegedly use a digital token to defraud investors? Explore this and more in today’s News of Note.
Last week, the U.S. Department of the Treasury released a report entitled “Study of the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art” that discussed risks in the art sales ecosystem, ranging from high-value traditional art to NFTs and online sales platforms. Section 6110(c) of the Anti-Money Laundering Act of 2020 (AMLA), enacted as part of the National Defense Authorization Act for Fiscal Year 2021, had directed the U.S. Department of the Treasury to study the facilitation of money laundering (ML) and terror finance (TF) through the trade in works of art (the “Study”). The Study discusses which art market participants and sectors of the high-value art market in the United States present ML and TF risk, and that as a result may warrant regulation as financial institutions under the Bank Secrecy Act.
This metaverse-meets-NFTs themed edition of News of Note includes travel, food and shoes, a big box retailer entering the NFT arena, and the purchase of (a film adaptation of) a sci-fi classic. Oh, and there’s also the opportunity to be virtual next-door neighbors with Snoop Dogg.