Polly Wilkins and Lara Levinson, London-based lawyers for global disputes and investigations law firm Kobre & Kim, unpack the myriad of legal and financial risks associated with the explosive rise in NFT sales The art world is collectively on the up slope of a steep learning curve about Non-Fungible Tokens (NFTs) – unique, cryptographically secured digital assets which have been growing increasingly popular since the beginning of 2021. These assets include high-value artworks and digital...
Arguably, the legal issue causing most concern in the art world at the moment is the introduction of the Fifth Anti-Money Laundering Directive (5 AMLD), which is expected to be implemented into UK law by the 10th January 2020, regardless of Brexit. The art market is perceived as an easy target for criminals wishing to purchase art as a means of laundering the proceeds of crime. This directive applies to dealers, auction houses and other...
With international dealing, online sales, complex restitution cases and issues of provenance shaking up the art market, a collector may require a good lawyer more than ever. Anetha from Arts & Collections talks to LALIVE’s art law and private client specialists to unearth the legal issues affecting the art market. Anetha at Arts & Collections: What do you believe are the main legal challenges affecting the art world at the moment? Sandrine Giroud, Art Lawyer...
