Just as Marcel Duchamp shocked the art world in 1917 with his absurdist creation of Fountain—a “readymade” sculpture consisting solely of an upside-down urinal with a signature on it—creators of non-fungible tokens (“NFTs”) are now pushing the boundaries of the conventional art world by creating works that exist only
Continue Reading The Unknown Legal Future of the Art Market’s New Favorite Medium: Non-Fungible Tokens (“NFTs”)
On July 29, 2020, the Senate Committee on Homeland Security and Governmental Affairs issued a 150-page bipartisan report that identifies the art market both as the “largest legal, unregulated market in the United States” and a significant weakness in the nation’s sanctions and anti-money laundering regimes.[1] The Senate Report
Continue Reading Senate Report Documents Russian Oligarchs’ Use of the U.S. Art Market to Launder Money