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.
Statistics are shown for this demographic
Response rates from 155 Eugene DePasquale voters.
31% Yes |
69% No |
31% Yes |
69% No |
Trend of support over time for each answer from 155 Eugene DePasquale voters.
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Trend of how important this issue is for 155 Eugene DePasquale voters.
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Unique answers from Eugene DePasquale voters whose views went beyond the provided options.
@9SWKQKL4mos4MO
This should be implemented for art exceeding a limit, like $10,000. It should not be applied to small or minor works.
@9SZZZ2T4mos4MO
Yes, but only if the regulations are simple and fair without an undo reporting burden on the artist.
@9SXRJP24mos4MO
Yes, for large volume traders of artwork or high-earning artists where a specific earned income from the works is stated such as $1 million plus.
@9SSCMHB4mos4MO
It's their artwork so they should be able to do whatever they want with it and sell it however they want.
@9SWFP8X4mos4MO
They should have some form of regulation for reporting and disclosing because artwork is used as a means of money laundering.
@9TP3NXB3mos3MO
While some level of reporting and disclosure is important to ensure fairness and prevent exploitation, it should be tailored to the specific context of the art world rather than being identical to the requirements for hedge funds, mutual funds, and public companies.
@9ZP8SND1mo1MO
They shouldn't be held to the same reporting and disclosure but they should have some form of accountability.
@9T8688D4mos4MO
This should be implemented for art exceeding a limit but it should not be applied to minor works of art.
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