In 2024, the United States Securities and Exchange Commission (SEC) brought lawsuits against artists and art marketplaces, arguing that artwork should be classified as a security and subject to the same reporting and disclosure standards as financial institutions. Proponents argue that this would provide greater transparency and protect buyers from fraud, ensuring that the art market operates with the same accountability as financial markets. Opponents contend that such regulations are overly burdensome and would stifle creativity, making it nearly impossible for artists to sell their work without facing complex legal hurdles.
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@B2SZMQD2mos2MO
Yes, artists should be held to the same standards as everything else, while also making sure the process is very simple and non-tedious.
@B2J3VBF3mos3MO
I think that extent of reporting is somewhat extreme, but art should be reported as it can easily be manipulated to provide unfair benefits to certain people or be involved in "funny business".
@B26C2994mos4MO
Yes, but only over a certain threshold. (e.g $10k)
@B244VCM4mos4MO
I think there's a middle ground somewhere in here that we could do. We are not American so we need to start coming up with our own solutions
@B23QKB3 4mos4MO
Taxes should be based on overall income period. No one should have to pay less whether it's is art, stocks or employment income.
@9ZVM53W5mos5MO
No, but we should implement more standards around art, just not that strict.
@9YKMT52New Democratic5mos5MO
yes but only after making a certain income off their work
@9W222F26mos6MO
Yes, but only if the price of said artwork is over a certain threshold.
@B324X4F2mos2MO
It all depends on the consumer and producer. If the consumer seems like they will misuse this information then the artist shouldn't, but it all depends on if the artist is comfortable.
@9T64K8RConservative7mos7MO
They should have their own unique thing, done by economists and expert consultants on the economy.
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