Regulation of the digital market

An approved platform must identify its sellers and buyers above a threshold of €1,000, consult the BIOP database for any token backed by a physical work, inform the buyer clearly about the rights transferred, keep records of transactions for ten years, and offer a mediation mechanism.

It must also report to OIMAP any suspicious operation, in particular when the same token is resold many times between linked accounts, which may indicate price manipulation or money laundering.

The buyer of a token must know precisely what they are acquiring. For an original digital work, they may acquire ownership of the file, a right of use or an exhibition licence. For a backed token, they acquire a right over the physical work, which must be specified in the contract.

The artist's copyright remains protected. Buying a token does not give the right to reproduce or distribute the work, unless otherwise stipulated. Approved platforms display these statements in full before purchase.

The most common frauds are the fake token (copy of an existing token), theft of an artist's identity, the sale of a non-existent work and price manipulation. Approved platforms use analysis tools and alerts cross-checked with the BIOP to spot them.

A buyer can also protect themselves: check the platform's address, never share their private key, compare the token with the underlying work, keep all evidence.