The U.S. Treasury Department has identified significant risks associated with nonfungible tokens (NFTs), including high susceptibility to fraud, scams, and theft. In one of its first reports on NFTs, released on Wednesday, the Treasury highlighted the need for stronger regulatory measures to combat money laundering and sanctions evasion on NFT platforms. The department urged regulators to consider new guidance or rules aimed at curbing financial risks from NFTs.
[THE BLOCK] US Treasury says NFTs are prone to fraud and scams, recommends rules and guidance to provide clarity
US Treasury says NFTs are prone to fraud and scams, recommends rules and guidance to provide clarity https://t.co/bIU1typIeR
🚨 In one of its first reports on #NFTs, the U.S. Treasury identifies significant risks, including high susceptibility to fraud, scams, and theft. The assessment urges stronger regulatory measures to combat money laundering and sanctions evasion on #NFT platforms.
🔵 US TREASURY SAYS REGULATORS SHOULD CONSIDER NFT GUIDANCE, GIVEN FRAUD RISKS Full Story → https://t.co/IZhn2AmjHY The U.S. Treasury Department on Wednesday said regulators should weigh new guidance or rules aimed at curbing financial risks from nonfungible tokens, or NFTs, a… https://t.co/1KVaeK8jTf
US Treasury says regulators should consider NFT guidance, given fraud risks https://t.co/LlXcClZa6J https://t.co/BtbSlkdIfh
U.S. Treasury Describes NFTs as 'Highly Susceptible to Use in Fraud and Scams' https://t.co/13pvhfmHze via @coindesk @JamieCrawleyCD