12/07/2023 Alexander

What are the global regulations around NFTs?

Pawel Kuskowski talks to Zach Burks, CEO of Mintable and ERC-2981: NFT Royalty Standard author, about various regulations regarding NFTs.

US is not crypto friendly because the set of regulations is not very transparent or fair. In this context, Zach shares his view of what regulations in various jurisdictions don’t adequately cover NFTs and why money laundering via NFT is not ideal. They also discuss how NFTs should ideally be regulated and why a blanket regulation on all NFTs such as the Howey test does not make sense.

Pawel asks why the NFT space has not yet reached mass adoption to which Zach replies that the user experience needs to be easier and the businesses who provide NFTs need an outsourced NFT provider who will take care of all the technical aspects. Zach also aspires to redefine the NFT marketplace by the end of the year.