China has put a halt to Initial Coin Offerings (ICOs) in China. In a recent notice, China declared ICOs to be an illegal fund raising tool and indicated it is reviewing previous ICOs for possible fraudulent practices. Money previously raised
Game Counsel
The Go-to Resource for Legal Insights in the Gaming and Esports Industries
Game Counsel, published by Sheppard, Mullin, Richter & Hampton LLP, focuses on legal issues at the intersection of gaming, technology, and intellectual property. The blog covers topics such as regulatory developments affecting social casino sweepstakes, legal challenges related to AI and voice cloning, copyright and licensing frameworks for AI training, and legislative efforts addressing digital replicas and deepfakes. It also addresses enforcement actions by state authorities against online gaming platforms and explores the evolving legal landscape for gaming companies, content creators, and technology developers. The blog provides insights into privacy, consumer protection, and intellectual property rights as they relate to the gaming and AI industries.
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Cryptocurrency Traders Beware – The Taxman Cometh!
By James Gatto
As the collective market cap of the cryptocurrencies has jump above $150 billion, traders and investors have accumulated significant gains. That’s the good news. The bad news is that the Internal Revenue Service is stepping up efforts to ensure that…
SEC Issues Warning on Certain ICOs
By James Gatto
eSports League Expands with Addition of NFL Owners and Cloud9
By Mark Patrick
Activision Blizzard’s Overwatch League gained two new teams this month as Stan and Josh Kroenke, owners of the Los Angeles Rams and numerous other professional sports franchises, and Jack Etienne, founder and CEO of American eSports organization Cloud9, each acquired…
SEC Declares That Initial Coin Offerings (ICOs) May Be Securities; Finds DAO a Security
By James Gatto
The SEC has opined that, depending on the facts and circumstances of each individual ICO, the virtual coins or tokens that are offered or sold may be securities. If they are securities, the offer and sale of these virtual coins…
Court Enjoins Milwaukee Over AR Location-based Game Ordinance
By James Gatto
A U.S. District Court Judge issued a preliminary injunction against enforcing a Milwaukee county ordinance requiring a permit before implementing certain AR location-based games. As we previously reported, Candy Lab AR, makers of the augmented reality poker game Texas…
A Deeper Dive Into the FTC Crack-Down on Social Media Influencers: What You Should Know Before You Post
In our previous blog post, “Brands Beware!!! FTC Scrutinizing Influencer Posts for Compliance with Endorsement Guides,” we reported that the Federal Trade Commission (“FTC”) had issued more than 90 letters to brands and influencers, making it clear that it is…
DraftKings and FanDuel Call Off Merger Following FTC Intervention
By Mark Patrick
On July 13, 2017, daily fantasy sports providers DraftKings and FanDuel announced their decision to call off their proposed merger. Last month, the United States District Court for the District of Columbia issued a temporary restraining order, blocking the proposed…
U.S. Supreme Court Set to Address Sports Betting
By Mark Patrick
On June 27, 2017, the United States Supreme Court agreed to hear a challenge to a law that prohibits individual states from permitting gambling based on professional or amateur sports. The Professional and Amateur Sports Protection Act of 1992 (…
New Hampshire Exempts Bitcoin from Money Transmitter Regulation
By James Gatto
The pro-bitcoin legislation trend continues. This month New Hampshire passed legislation that exempts persons using virtual currency from registering as money transmitters. Specifically, the law amends existing RSA 399-G, which deals with licensing of money transmitters as follows.…