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Sept. 7, 2021

The Regulation of Non-Fungible Tokens in the United States

By Richard B. Levin, Kevin Tran

Global Legal Insights (GLI)

Richard Levin, chair of Nelson Mullins’s FinTech and Regulation Practice, and Nashville of counsel Kevin Tran have contributed a chapter to the Third Edition of FinTech Laws and Regulations. The chapter, "The Regulation of Non-Fungible Tokens in the United States," is the first comprehensive discussion by a leading U.S. FinTech practice of non-fungible tokens ("NFTs"). The authors note this new type of digital asset has drawn the attention of the U.S. Securities and Exchange Commission (SEC) and that in certain instances NFTs may be regulated as a security in the United States. The chapter also discusses how the operators of NFT trading platforms could have to register with the SEC as an exchange or a broker-dealer and alternative trading system. The chapter is a resource for the developers of NFTs, NFT trading platforms, and anyone interested in NFTs.