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US Treasury says NFTs 'highly susceptible' to fraud, but ignored by high-tier criminals https://t.co/2Ap4fSnbQn
NFTs PRONE TO FRAUD AND SCAMS: U.S. TREASURY NFTs are highly susceptible to fraud and scams, according to the U.S. Treasury Department's first risk assessment on illicit finance and NFTs. The report, released Wednesday, noted that while NFTs can be used to launder funds, they… https://t.co/K38eR2VGoJ
In a risk assessment, the US Treasury says NFTs are "highly susceptible to use in fraud and scams" and NFT platforms lack controls to combat money laundering (@jamiecrawleycd / CoinDesk) https://t.co/4Wr27rRtZk 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/fmse46IxJn
The U.S. Treasury Department has released its first risk assessment on non-fungible tokens (NFTs) on May 29, highlighting significant risks including high susceptibility to fraud, scams, and theft. The report, released on Wednesday, urges regulators to consider new guidance or rules to curb financial risks associated with NFTs. The assessment also points out that NFT platforms lack adequate controls to combat money laundering and sanctions evasion.
