This decentralized social platform is where 'Friend Keys' linked to friends on X (formerly Twitter) have surged in value, amassing 100,000 users since its August 10 launch.
, a decentralized social media platform in which you can buy and sell “keys” in your friends on X whose value can go up and down, has become a viral sensation, racking up as many as 100,000 users since launching on August 10.
Should keys be considered securities and thus regulated by the SEC? How should gains and losses be taxed? And how private should users assume their communications and transactions on the platform are? Securities and banking law professor at George Mason Law School JW Verret, and tax partner and co-head of the Digital Assets and Blockchain Practice at Fried, Frank Jason Schwartz, share their thoughts.
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