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Lawyers battle over whether NFT insider trading is criminal

A group of lawyers argues that prosecutors’ first NFT insider-trading case opens the door to an overly broad use of the wire-fraud statute to penalize unauthorized use of workplace information

Insider trading in a company’s stock is illegal, but what about insider trading in digital art?

Federal prosecutors, in a novel case over trading in nonfungible tokens, or NFTs, will test whether fraud theories used to police capital markets also apply to the more unorthodox market that boomed during the Covid pandemic.

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