A bipartisan parliamentary committee in the UK has called on the government to protect creators from copyright infringement related to nonfungible tokens (NFTs) and address potential risks associated with sporting groups issuing digital assets. The committee highlighted the ease and speed at which NFTs can be minted, compared to the slow process for artists to enforce their rights, as a pressing issue. They expressed concerns about artists’ intellectual property rights being violated and fraudulent advertisements misleading investors. The committee recommended that the government collaborate with NFT marketplaces to introduce a code of conduct that safeguards creators, consumers, and sellers from infringing and potentially fraudulent material. Additionally, the committee warned about the potential harms of sporting leagues or teams creating cryptocurrencies for fans and called for a ban on such digital assets. They cited the volatility of these tokens and the financial harm they could cause to fans who are unaware of the risks. The committee concluded that fan tokens should not be considered an appropriate form of fan engagement in the future.

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Information	Details
Geography	Europe
Countries	🇬🇧
Sentiment	neutral
Relevance Score	0
People	Dame Caroline Dinenage
Companies	FC Barcelona, Tottenham Hotspur, Socios.com, None, Manchester City
Currencies	None Trading
Securities	None