CryptoMediaClub
Monday, July 28, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

British MPs urge action on NFT copyright infringement, crypto fan tokens

11.10.2023
A A
0
124
VIEWS
ShareShare

A bipartisan parliamentary committee has urged the British government to protect creators from copyright infringement associated with nonfungible tokens (NFTs) and address potential harms from sporting groups issuing digital assets.

In an Oct. 11 press release, Culture, Media and Sport Committee members warned the “most pressing issue” was the risk to artists’ intellectual property rights arising from the ease and speed at which NFTs can be minted, compared to the slow process for artists looking to enforce their rights.

“Artists are at risk of seeing the fruits of their hard work pinched and promoted without permission while fraudulent and misleading adverts add an extra layer of jeopardy for investors involved in what is already an inherently risky business,” said committee chair Dame Caroline Dinenage.

In an accompanying report, the committee recommended the government work with NFT marketplaces to address these infringements by introducing a code of conduct that protects creators, consumers and sellers from infringing and potentially fraudulent material sold on such platforms.

The committee also warned of the potential harms of sporting leagues or teams creating cryptocurrencies to offer to fans and called for such digital assets to be banned.

It follows numerous United Kingdom-based football organizations, including Manchester City and Tottenham Hotspur, releasing “fan tokens” to followers and club members. Purchasing such tokens is supposed to offer exclusive rights and benefits, but the committee claimed this often failed to be the case.

Passion Knows No Boundaries.
From North London to South Korea. COYS worldwide. @SpursOfficial join the https://t.co/2FROhSNgw8 family #PassionForSpurs pic.twitter.com/Rjns7z6RYy

— Socios.com (@socios) September 28, 2023

“We are also concerned that clubs may present fan tokens as an appropriate form of fan engagement in the future, despite their price volatility and reservations among fan groups,” the report said.

Related: FC Barcelona secures $132M investment for blockchain and NFT venture

The committee claimed the volatility of these tokens could cause financial harm to fans, who were unaware of the “inherently risky” nature of the asset.

“In the world of sport, clubs are promoting volatile crypto asset schemes to extract additional money from loyal supporters, often with promises of privileges and perks that fails to materialize.”

The committee concluded that “any measurement of fan engagement in sports, including in the forthcoming regulation of football, should explicitly exclude the use of fan tokens.”

Web3 Gamer: Minecraft bans Bitcoin P2E, iPhone 15 & crypto gaming, Formula E

Share10Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post

Bullish Sign? Tether’s (USDT) Supply on Exchanges Hits Highest Level Since March: Data

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

FTX-Funded Charity Effective Ventures Acted ‘Diligently’ Protecting Funds: UK Govt. Probe Conclude

FTX-Funded Charity Effective Ventures Acted ‘Diligently’ Protecting Funds: UK Govt. Probe Conclude

1 year ago
Neiro Surges 15% as Investors Flock to a ‘Less Than $0.01’ Meme Coin 

Neiro Surges 15% as Investors Flock to a ‘Less Than $0.01’ Meme Coin 

10 months ago
Trader Turns $960 into $78,789 on New Kamala Harris Meme Coin

Trader Turns $960 into $78,789 on New Kamala Harris Meme Coin

1 year ago
Bitwise CIO downplays price ‘hiccup’ amid Bitcoin bull trend after FOMC shakes markets

Bitwise CIO downplays price ‘hiccup’ amid Bitcoin bull trend after FOMC shakes markets

7 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

Ripple’s Chris Larsen Still Holds 2.58B XRP, Analyst Warns of Potential Sell Pressure

Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

Ethereum Price Prediction: ETFs Log 17-Day Inflow Streak – Is a Supply Shock Coming?

Trending

ASIC Warns Australians Against Bitget’s “Unlicensed” Crypto Futures Offerings
All news

ASIC Warns Australians Against Bitget’s “Unlicensed” Crypto Futures Offerings

28.07.2025
0

The Australian regulator has issued a warning against crypto exchange Bitget for offering “unlicensed crypto futures products.”...

Crypto Lender Divine Uses Iris-Scanning World ID to Disburse 30,000 Unsecured Loans

Crypto Lender Divine Uses Iris-Scanning World ID to Disburse 30,000 Unsecured Loans

28.07.2025
Metaplanet Buys 780 More Bitcoin, Total Now Over 17,000 BTC

Metaplanet Buys 780 More Bitcoin, Total Now Over 17,000 BTC

28.07.2025
South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

South Korean Crypto Exchanges Paid Customers $87M in Interest in Past Year

28.07.2025
Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

Tyler Winklevoss Says JPMorgan Halted Gemini Onboarding Over Public Criticism

28.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz