The United States Patent and Trademark Office (“USPTO”) and the United States Copyright Office (“USCO”) delivered a report to Congress entitled Non-Fungible Tokens and Intellectual Property on March 12, 2024 (“Report”). While the Report is comprehensive, it does not recommend
Law of The Ledger
Legal Issues with Blockchain and Cryptocurrency
Latest from Law of The Ledger
Sanctions Enforcement in the Cryptocurrency Industry Continues to be a Focus
On December 13, 2023, CoinList Markets LLC (“CoinList”) agreed to pay $1,207,830 pursuant to a settlement agreement with the Office of Foreign Assets Controls (“OFAC”) in connection with allegations that the San Francisco based virtual currency exchange violated OFAC’s Russia/Ukraine…
OFAC Sanctions Crypto Mixer Following Allegations of Laundering Funds to North Korea
The U.S. authorities are increasingly taking actions against big-name crypto mixers for potential violations of sanctions regulations. On November 29, 2023, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) sanctioned Sinbad.io (“Sinbad”), which is a virtual currency mixer.…
USPTO Guidance on Design Patents Including a Computer-Generated Electronic Image
The USPTO has prepared soon to be published supplemental guidance for design patent examination for computer-generated electronic images. This guidance relates to determining whether a design patent claim including a computer-generated electronic image per se or a computer-generated electronic image…
Design Patents Milestone Announced
The USPTO has announced that the 1 millionth design patent was just issued. The USPTO grants design patents for new, original, and ornamental designs for an article of manufacture. Protecting the way something looks, as opposed to how it works…
SEC Enforcements Against NFTs – Are You Next?
Microsoft to Indemnity Users of Copilot AI Software – Leveraging Indemnity to Help Manage Generative AI Legal Risk
The rapid growth of generative AI (GAI) has taken the world by storm. The uses of GAI are many as are the legal issues. If your employees are using GAI, they may be subjecting your company to many unwanted and…
The SEC’s Sudden Impact on NFTs!
On August 28, 2023, the Securities and Exchange Commission (“SEC”) instituted cease-and-desist proceedings under Section 8A of the Securities Act against Impact Theory, a Los Angeles media and entertainment company, alleging that the company’s sale of non-fungible tokens (“NFTs”) violated…
Solving Open Source Problems with AI Code Generators – Legal Issues and Solutions
AI-based code generators are a powerful application of generative AI. These tools leverage AI to assist code developers by using AI models to auto-complete or suggest code based on developer inputs or tests. These tools raise at least three types…
Valve Rejects Games with AI Assets Over Copyright Concerns
Valve has reportedly adopted a policy to reject games that use AI-generated content over infringement concerns. A developer posted on the “aigamedev” subreddit that in response to submitting a game with some assets that were obviously AI-generated, he received a…