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In May 2023 we reported on the IP infringement decision of the Californian District Court, in relation to the dispute between the creators of the Bored Aped Yacht Club (BAYC) non-fungible token (NFT) collection, Yuga Labs, and the ‘artists’ Ryder Ripps and Jeremy Cahen. In that decision, the Court found against the defendants and, on 25 October 2023, the order for damages was handed down. This blog post looks at the recent damages decisions and its implications. Read more
On 30 October 2023, the government published three policy documents on cryptoassets regulation in the UK, covering fiat-backed stablecoins, the wider cryptoasset regulatory regime and the failure of systemic digital settlement asset (DSA) firms. On the whole, the updates confirm the approaches previously proposed. However, much of the detail will only emerge in the next phase once secondary legislation and regulators' rules have been published. Read more
The US District Judge has now handed down its opinion and order (23 June 2023) on a number of post-trial motions sought by the parties in the “MetaBirkin” case and these provide some interesting insights into how courts may approach the question of remedies in non-fungible tokens (NFT) related cases. Read more
Well over two years after the Markets in Cryptoassets Regulation (MiCA) was first proposed, the European Parliament gave it the green light on 20 April 2023 and MiCA was adopted by the Council on 16 May 2023. MiCA is likely to enter into force in July 2023 following publication in the Official Journal, with some provisions applying a year later and the rest from January 2025. Read more
