Do you know what events are taxable in the metaverse? It's okay, even experts are having a tough time figuring it out. (Via CointelegraphZN)
When hundreds of millions of dollars are being raised in an entirely new way, it’s not surprising that potential legal concerns are lurking around the corner. This was certainly the case with ICOs, which regularly ran afoul of securities laws and the related accredited investor laws, says Randall Johnson, a United States lawyer with 30 years of experience specializing in securities regulations and who advises various blockchain projects.What will be the law of the metaverse? .
What some may view as art might look like little more than stock certificates emblazoned with digitally generated monkey pictures to regulators. Indeed, Johnson himself is co-founder of, a platform that is turning title deeds into income-producing real estate from around the world into NFTs. Woolley also mentions worrying speculation that the SEC under Gary Gensler, which has remained tight-lipped on the issue beyond declaring Bitcoin a commodity, has its aims on declaring “all other fungible and nonfungible tokens” as securities — a move that would do untold damage to the industry.
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