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Select Committee · Culture, Media and Sport Committee

Non-fungible tokens (NFTs) and the blockchain

Status: Closed Opened: 3 Nov 2022 Closed: 5 Feb 2024 4 recommendations 1 report

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 and the blockchain could provide …

Clear

Reports

1 report
Title HC No. Published Items Response
Fourteenth Report - NFTs and the Blockchain: the risks to s… HC 598 11 Oct 2023 4 Responded

Recommendations & Conclusions

2 items
1 Recommendation Fourteenth Report - NFTs and the Blockc… Rejected

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 more generally. We recommend that the Government engages with NFT …

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 …
Department for Culture, Media and Sport
2 Recommendation Fourteenth Report - NFTs and the Blockc… Rejected

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 year. (Paragraph 19) Professional sport

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 …
Department for Culture, Media and Sport

Oral evidence sessions

1 session
Date Witnesses
18 Apr 2023 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 View ↗

Correspondence

1 letter
DateDirectionTitle
16 May 2023 To cttee Letter from Emily Gould, Assistant Director, Institute of Art and Law, relating…