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Τhe thrill of NFTs: The trendy hybrid assets and their legal implications

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Article by Panayiotis Antoniades* Introduction: The thrill of NFTs NFTs (Non-fungible tokens) have recently burst into an astonishing online hype. The marketplace of these assets encompasses eager capital holders that are willing to spend great amounts for the purchase of assets, yet in a profoundly unorthodox way. NFTs have revolutionized the way assets are perceived, transformed the media and collectible art industries, and justifiably caused a lot of doubtful conversations regarding their future. From the notorious JPG file of Beeple’s collage, Everydays: The First 5000 Days, sold for $69 million, to Twitter’s co-founder and CEO Jack Dorsey’s first-ever tweet "just setting up my twttr" that auctioned for a charitable cause for $2.9 million. NFT and Blockchain Technology NFTs are digital certifications of ownership of a unique digital asset. The code of the NFT is encrypted on a blockchain, a shared database, which records transactions on a digital decentralized led

Dismissal of a public-sector employee for having “Liked” Facebook posts: Violation of her right to freedom of expression

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Ιn Chamber's judgment in the case of Melike v. Turkey (application no. 35786/19) the European Court of Human Rights held, unanimously, that there had been a violation of Article 10 (freedom of expression) of the European Convention on Human Rights.  The case concerned the dismissal of Ms Melike, a contractual employee at the Ministry of National Education, for having clicked “Like” on various Facebook articles (posted on the social networking site by a third party).  The authorities considered that the posts in question were likely to disturb the peace and tranquillity of the workplace, on the grounds that they alleged that teachers had committed rapes, contained accusations against political leaders and related to political parties.  The Court noted that the content in question consisted of virulent political criticism of allegedly repressive practices by the authorities, calls and encouragement to demonstrate in protest against those practices, expressions of indignation about th

Legal Officer at the International Atomic Energy Agency (Vienna, Austria)

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International Atomic Energy Agency (Vienna, Austria) seeks to recruit a Legal Officer (IAEA Legislative Assistance Programme). The Office of Legal Affairs, which reports directly to the Director General, provides legal services of the highest possible standards to the Director General, the Secretariat and to the organs and bodies of the IAEA, as well as to Member States, regarding the implementation of the IAEA's activities. The Nuclear and Treaty Law Section provides legal advice and support to the Office of the Director General and the Secretariat in the areas of nuclear safety and security (including civil liability for nuclear damage), nuclear energy, nuclear applications and technical cooperation. It is also responsible for the IAEA's depositary function as well as the IAEA's legislative assistance programme, providing advice and training regarding legislative frameworks governing the safe and peaceful uses of nuclear energy to Member States. Under the guidance of

Presume innocence for all, until proven guilty – it is a right (FRA Report)

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Presumption of innocence is a core right in criminal justice. Yet, prejudice, bias and practices like presenting defendants in handcuffs undermine this right in many European countries, finds the latest report of the EU Agency for Fundamental Rights (FRA). FRA calls on EU countries to respect the rights of all defendants, regardless of their background. “All defendants have the right to be presumed innocent until an independent court finds them guilty. But our in-built biases, and what we see or read, can affect our perception of guilt,” says FRA Director Michael O’Flaherty. “EU countries need effective measures to safeguard the rights of all defendants to a fair trial and equal access to justice.” FRA’s report ‘Presumption of innocence and related rights – Professional perspectives’ looks at how EU countries in practice apply the rights to be presumed innocent, to remain silent and to be present at trial. FRA identifies problems in safeguarding these rights and calls on EU countri

75th anniversary of the International Court of Justice : Watch the virtual tour of the Peace Palace in the Hague

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On the occasion of the 75th anniversary of the International Court of Justice, a virtual tour of the Peace Palace in The Hague, the seat of the Court, is now available here .  The President of the Court, H.E. Judge Joan E. Donoghue, delivered a video message to commemorate the 75th anniversary of the Court. Watch it here The International Court of Justice (ICJ) is the principal judicial organ of the United Nations (UN). It was established in June 1945 by the Charter of the United Nations and began work in April 1946. The seat of the Court is at the Peace Palace in The Hague (Netherlands). Of the six principal organs of the United Nations, it is the only one not located in New York (United States of America). The Court’s role is to settle, in accordance with international law, legal disputes submitted to it by States and to give advisory opinions on legal questions referred to it by authorized United Nations organs and specialized agencies. The Court is composed of 15 judges,

'Ne bis in idem' principle can preclude the arrest, within the Schengen Area and the European Union, of a person who is the subject of an Interpol notice (ECJ)

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ECJ - Judgment in Case C-505/19 WS v Bundesrepublik Deutschland (12.5.2021): The principle prohibiting the duplication of proceedings can preclude the arrest, within the Schengen Area and the European Union, of a person who is the subject of an Interpol notice. This is the case where the competent authorities are aware of a final judicial decision, taken in a State that is a party to the Schengen Agreement or a Member State, which establishes that that principle applies. In 2012, the International Criminal Police Organisation (Interpol) published, at the request of the United States and on the basis of an arrest warrant issued by the authorities of that country, a red notice in respect of WS, a German national, with a view to his potential extradition. Where a person who is the subject of such a notice is located in a State affiliated to Interpol, that State must, in principle, provisionally arrest that person or monitor or restrict his or her movements. However, even before that

Τhe appeal against a decision rejecting asylum and the principle of effectiveness

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By Giorgos Kazoleas, Lawyer The positive impact of the application of the principle of effectiveness reflects a significant recent ruling by the European Court of Justice. The decision concerns immigration law and in particular the right of the asylum seeker to appeal against the decision rejecting his application. The ECJ considers that the applicant may rely on circumstances subsequent to the rejection in his appeal and that the national court should take them into account. According to the Judgment [1]  , it is for each Member State to lay down procedural rules for legal actions that would safeguard that effective judicial protection. The Court recalls that the Dublin III Regulation 4 provides that a person who is the subject of a transfer decision is to have the right to an effective remedy against that decision and that that remedy must cover, inter alia, the examination of the application of that regulation. According to article 27 of the Regulation  (EU) No 604/2013 [2]

Parliamentary Assembly of CoE concerned about new proposed laws on ‘undesirable organisations’ in Russia

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The rapporteur of the Parliamentary Assembly of the Council of Europe (PACE) for follow-up to  Resolution 2362 (2021)  on "Restrictions on NGO activities in Council of Europe member States", Alexandra Louis (France, ALDE), has expressed concern over two new draft laws aimed at widening the scope of application of the Russian law of 23 May 2015 on "undesirable organisations". "The application of the law on ‘undesirable organisations’, criticised by the Venice Commission and the Assembly, has already led to the closure of some 30 international NGOs in the Russian Federation. It is all the more worrying that two new draft laws have recently been tabled in the State Duma to widen the scope of its application. If adopted, the implementation of new provisions of the law would further shrink the space for civil society in Russia. These new draft laws run counter to the recommendation made by the Assembly last January in its Resolution 2362 (2021), urging Council o

The money laundering risk of Golden Passports

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By Christina Poursanidou, Lawyer Following the financial crisis of 2009, most of the European countries in order to boost their weakened economies, have introduced policies, which allow foreign investors to make large and passive investments, in exchange of an easy (almost immediate) route to citizenship or residence of the investors. Such schemes are definitely not a new trend, since even from the 1980s UK and USA offered residence in exchange for sizable investments. Usually these policies are defined as Citizenship by Investment (CBI) or  Residency by Investment (RBI), “Golden Visas” or “Golden passports”. Undoubtedly,  such policies have a positive impact on the introducing country, but simultaneously could carry significant risk of economic crime. At that point, let’s discuss the intentions of the parties. On the one hand, the country introducing a golden passport policy aims at its economic growth. Basically, the country offers a passport in order to receive a huge investment fro

Protocol No. 15 amends the Convention for the Protection of Human Rights and Fundamental Freedoms

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Protocol No. 15 to the European Convention on Human Rights brings significant amendments in Convention’s provisions. The ratification shall trigger into force of the Protocol as such, in respect of all the Council of Europe member States on 1 August 2021. This protocol brings some changes to the European Convention on Human Right’s provisions regarding the functioning of the European Court of Human Rights : Adding a reference to the principle of subsidiarity and the doctrine of the margin of appreciation to the Preamble of the Convention; Shortening from six to four months the time limit within which an application must be made to the Court; Amending the ‘significant disadvantage’ admissibility criterion to remove the second safeguard preventing rejection of an application that has not been duly considered by a domestic tribunal; Removing the right of the parties to a case to object to relinquishment of jurisdiction over it by a Chamber in favour of the Grand Chamber; Replacing t

Editorial

Editorial
George Kazoleas, Lawyer