Non-fungible tokens (NFTs) and the blockchain

Culture, Media and Sport Committee Closed Inquiry
Opened: 3 Nov 2022 Closed: 5 Feb 2024 Parliament page
The DCMS Committee will hold an inquiry into the operation, risks, and benefits of Non-Fungible Tokens (NFTs) and the wider blockchain. MPs are expected to consider whether NFT investors, especially vulnerable speculators, are put at risk by the market. The inquiry may also look into the wider benefits that NFTs … Read more
4 Recommendations
1 Report
1 Oral session
1 Letter
1 Event
Activity timeline 5 events
12 Jan
2024
Report published
11 Oct
2023
Report published
16 May
2023
Correspondence
18 Apr
2023
Oral evidence
18 Apr
2023
Formal meeting (oral evidence session) · The Grimond Room, Portcullis House
Oral evidence sessions 1 session
18 Apr 2023
View on parliament.uk
Angus Scott · Artclear Ltd Emily Gould · Institute of Art and Law Joey D’Urso Kieran Maguire · University of Liverpool Reema Selhi · Design and Artists Copyright Society
Title HC No. Published Items Response
Fourteenth Report - NFTs and the Blockchain: the risks to sport … HC 598 11 Oct 2023 4 Responded
Recommendations & Conclusions
2 results
Clear
1 Recommendation Rejected
Fourteenth Report - NFTs and the B…
Introduce a code of conduct for online marketplaces protecting creators from infringing material.
Intellectual property laws and copyright protection are central to enabling artists to create, innovate and make a living from their work. Emerging technologies that undermine these protections have a profound impact on individual artists and the UK’s world-leading creative industries … Read more
Government Response
The government rejects introducing a new code of conduct for online marketplaces, including NFT marketplaces, citing that previous stakeholder engagement showed it wasn't needed and there's no new evidence to change this assessment; however, it will engage with NFT marketplaces to understand infringement threats.
Department for Culture, Media and Sport
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2 Recommendation Rejected
Fourteenth Report - NFTs and the B…
Publish analysis of Article 17 implementation and equivalent international copyright approaches by year-end.
We recommend that the Government publishes its analysis of the implementation of Article 17 of the European Union Directive on Copyright in the Digital Single Market, and equivalent approaches undertaken by countries outside the EU, by the end of the … Read more
Government Response
The government rejects the recommendation to publish its analysis of Article 17 implementation by the end of the year, stating it is unable to do so as more time is required to fully assess its operation in EU member states due to late transposition and multi-year licensing agreements.
Department for Culture, Media and Sport
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Government Response AI assessment · 4 of 4 classified
Accepted 2
Rejected 2
Total 4 recs
Correspondence 1 letter
16 May 2023 To committee Letter from Emily Gould, Assistant Director, Institute of Art and Law, relating to the oral evidence session on 18 April 2023, dated 21 April 2023
Parliament page