Observe · Regulate · Protect — since 2007. 19th OIMAP General Assembly: Singapore, 10–12 June 2026. Programme
Market

Regulation of the digital market

The legal framework of digital works and NFTs: rights, platform obligations, taxation and the fight against money laundering.

Updated : October 28, 2026· 3 min read

Rules for a market without borders

Kenilworth Castle, Warwickshire, England, Adolphe Braun (c. 1870s)
Kenilworth Castle, Warwickshire, England, Adolphe Braun (c. 1870s)

The digital market ignores borders, but its players are subject to national laws. OIMAP regulation harmonises the minimum rules for approved platforms and protects buyers.

Adopted in 2022, the regulation rests on the 2019 Directive on certification, supplemented by a protocol specific to digital assets. It defines the three categories of objects, sets platform obligations and provides for sanctions.

This page presents the main rules and their application.

  • Regulation
  • Platforms
  • Rights

Digital market regulation in figures

2022Year of adoption
3Categories of objects
38Approved platforms
12Sanctions in 2024

Source: OIMAP Observatory.

Breakdown

Identification obligation34%
Buyer information28%
BIOP consultation22%
Mediation16%

Checks carried out on platforms (indicative values).

The obligations of platforms

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.

Prayer Niche (Mihrab) (c. 1500s or mid-1900s)
Prayer Niche (Mihrab) (c. 1500s or mid-1900s)
Leaf from a Psalter and Prayerbook: Calendar Page with Labors (recto) (c. 1524)
Leaf from a Psalter and Prayerbook: Calendar Page with Labors (recto) (c. 1524)
Arion on a Sea Horse and Bacchante on a Panther (pair), William Adolphe Bouguereau (1855)
Arion on a Sea Horse and Bacchante on a Panther (pair), William Adolphe Bouguereau (1855)

The buyer's rights

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 fight against digital fraud

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.

Obligations by type of object

Obligations of platforms
ObligationDigital workBacked tokenToken alone
IdentificationYesYesYes
OIMAP certificateOptionalMandatoryNot applicable
BIOP consultationOptionalMandatoryNot applicable
Information on rightsMandatoryMandatoryMandatory
MediationYesYesYes

Landmarks

  1. Directive No. 2019-07

    Authentication protocol.

  2. Speculative peak

    First litigation.

  3. Digital regulation

    Adoption of the regime.

  4. 12 sanctions

    Reinforced controls.

Taxation

Fragment of a Border with Standing and Seated Birds Amidst Vegetation (1500s)
Fragment of a Border with Standing and Seated Birds Amidst Vegetation (1500s)
Daffodil Table Lamp, Tiffany Studios (c. 1910–13)
Daffodil Table Lamp, Tiffany Studios (c. 1910–13)
Portrait of a Naval Officer, Lai Fong (1870s)
Portrait of a Naval Officer, Lai Fong (1870s)

Complying with the regulation

  1. Identify

    Verify the identity of the parties.

  2. Check

    Consult the BIOP.

  3. Inform

    State the rights transferred.

  4. Preserve

    Archive for ten years.

  5. Report

    Raise the alarm if suspicious.

For a compliant platform

A lawyer

Lampas with foliate medallions in ogival lattice (1400s)
« A clear contract is worth a thousand promises: most disputes come from uncertainty about what was bought. »
Atty. Sophie Lambert, specialist lawyer

Vocabulary of regulation

Moral right
Right of the author to respect for their work.
KYC
Identity verification procedure.
Money laundering
Concealment of the origin of funds.
Sanction
Measure taken against a breach.

Frequently asked questions

Are NFTs banned?

No, they are regulated.

Can a platform lose its approval?

Yes, in case of serious breach.

Where can I read the full text?
Who supervises the platforms?

The Secretariat, with national authorities.

Useful documents

Contacts

The Doge's Palace, Venice, Richard Parkes Bonington (1826)
The Doge's Palace, Venice, Richard Parkes Bonington (1826)
OIMAP ObservatoryParis — Headquarters+33 1 00 00 01 00observatoire@oimap.exampleMonday to Friday, 9 am – 5 pm

See the approved platforms

Telescoping basket (1800's)

Where to buy safely.

Approved platforms
Image credits (16)
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