This article by Louis Lehot originally appeared on digitalconnectmag.com on May 29, 2021: Cryptocurrency Designing NFT Marketplaces
A few years ago, initial coin offerings (ICOs) were all the rage in the cryptocurrency world. They offered many projects the ability to raise funds quickly and easily, but they also drew the scrutiny of regulatory agencies. As I pointed out at the time, the regulatory landscape for ICOs was something of a Wild West, with multiple agencies claiming jurisdiction. While the ICO market eventually cooled, the rise of NFTs demonstrates a similarly complicated relationship with existing regulations. As we sketched out in our initial guide to legal issues in NFTs, the cost of non-compliance can be fatal. With the benefit of more experience, we are sharing key considerations in building an NFT marketplace.
