J5 Warning Highlights Growing Risk Of NFT-Related Crime

By Syed Rahman (June 13, 2022, 12:24 PM BST) -- Non-fungible tokens seem to have emerged as the year's most talked about asset. So it was maybe a foregone conclusion that global regulators would start making very clear warning noises about them. The only uncertainty is the effectiveness of such warnings.

The Joint Chiefs of Global Tax Enforcement, or to give them their snappier title, the J5, issued a statement about the growing risks of money laundering and fraud associated with NFTs.

As a type of digital token and crypto-asset associated with the blockchain, a non-fungible token, or NFT, is a digital certificate of authenticity. All kinds of digital objects can...

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