NXT Asset Exchange And Farla Webmedia Legal Concerns
On November 9th 2015 Farla Webmedia launched a project on the NXT Asset Exchange which has created a bit of intrigue about the legal standing of crypto assets. What is particularly interesting is the promise of future profits the project makes. According to the company, assets only represent a share in the profits and do not represent any ownership or control over the operations of the actual business. But does that legally change the status of being a share?
Are these some form of digital bearer (unregistered) assets, or perhaps some fashion of uncanny IOU? What legal jurisdiction does this fall under? How might taxes apply to these assets? What precisely is the role of the devs and their marketing team when it comes to informing the risks and legal technicalities of these features?
NXT Asset Exchange And Farla Webmedia Legal Concerns
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