Coinbase-Led Advocacy Group Launches Legal Defense Fund for NFT Projects

A digital asset advocacy group backed by Coinbase is launching a multimillion-dollar authorized protection fund for non-fungible token (NFT) initiatives.

In a brand new thread on social media platform

“Right now we’re elevating our protect to guard a basic a part of the crypto neighborhood. Alongside OpenSea and A16z Crypto, we’re launching a $6 million authorized protection fund for NFT creators. Creatives can now resist misguided actions from the SEC.”

On its official web site, Stand With Crypto says the fund goals to legally defend creators in opposition to “public coverage failures and unhealthy religion assaults on these looking for to construct on blockchain know-how.”

“This partnership is about championing artists and creators looking for to harness the facility of blockchain know-how whereas galvanizing the crypto neighborhood to advocate for our collective rights…

Artists, makers and builders who’ve been contacted by the SEC or who’re involved about potential lawsuits attributable to their use of blockchain know-how can file for illustration.”

Coinbase launched the advocacy group Stand With Crypto in August 2023 to assist the digital asset business deal with working straight with lawmakers and the legislative course of to safe the way forward for crypto within the US.

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