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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Response rates from 234 Unincorporated ACT voters.
55% Yes |
45% No |
55% Yes |
45% No |
Trend of support over time for each answer from 234 Unincorporated ACT voters.
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Trend of how important this issue is for 234 Unincorporated ACT voters.
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Unique answers from Unincorporated ACT voters whose views went beyond the provided options.
@9ZHR87Z1mo1MO
The question asks about artists, but the reporting should be on art related corporations. They have enough corporate structure and documents to be audited and regulated. This should not be used to bug smaller independent artists, those are covered by income tax laws.
@9ZFCJX41mo1MO
Depending on how much the artist is making save the hedge funds making $34 billion and the artist is only making $500 there's a big difference on regulatory standards for reporting and summarising an income statement for the ATO or any government agencies that want to know so depending on what the artist is making no
@9W7FMBV2mos2MO
Depending on how they made their art and what inspired it, it could be the right thing to do, but if their is such little to nitpick on then theirs no point.
@9VPTBW32mos2MO
If selling actual traditional artwork - no but if they are artists selling digital art or nfts then yes definitely
@9V9SVTX3mos3MO
Only if the regulator has the same ability and desire to regulate and enforce these requirements as the financial regulator.
@9V64KJ33mos3MO
Based on value as in any artists work below say 1000 would be free of this burden.
@9V4RPLJ3mos3MO
No, but There should be an accessible way for an artist to register their art in a database that has similar fraud detection as currency.
@9VJ4HPG2mos2MO
No unless there art is worth more then $250 million
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