First Mover Asia: Amazon’s Web3 Foray Will Be a Compliance Nightmare; Bitcoin Tops $23.9K

, Galaxy Digital accused the NFT industry of ‘misleading’ the public with its language around NFTs and ownership of copyright.

, there’s “a discrepancy between what the public thinks they're buying and what they're really buying”.in a court case between Yuga Labs and two artists it accused of making knock-offs of its NFTs and infringing on its copyright further complicated the issue with the court refusing to weigh in on the topic of NFTs and copyright.

Blockworks’ report mentions that Amazon’s NFT effort might involve some sort of Web3 gaming engagement. A tantalizing possibility, considering that GameFi has a $10 billion market capBut Play to Earn – one of the more popular genres of Web3 gaming – has all sorts of legal pitfalls. “Generally, the Criminal Code prohibits games that are fundamentally premised on: the payment of money by the user; and the possibility that the user can earn money from playing,” they write.that Play-to-Earn risks violating state and federal gambling law because of the need to pay something of value to participate.

Source: Digital Coin News (digitalcoinnews.net)

thesamreynolds JPRubin23 Amazon has the lobbyist to make this partnership work in their favor.

thesamreynolds JPRubin23 Meta was what? Peanuts s?

thesamreynolds JPRubin23 No ,they won't. Greedy corporation's not welcome. We need something decentralised for everybody.

thesamreynolds JPRubin23 Amazon entering the Web3 space is huge news! It could be a game-changer. The size, combined with the strength of DeFi could make it a major player in the crypto space. It will be interesting to see if it overcomes regulatory hurdles. Hodl!

thesamreynolds JPRubin23 亚马逊购物💖

thesamreynolds JPRubin23 Web 2 disguising itself as Web 3?!

thesamreynolds JPRubin23 PiNetwork

thesamreynolds JPRubin23 👀

thesamreynolds JPRubin23 XRP

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