Friday, 24 March, 2023

In a first, UK authorities seize NFTs in £1.4M fraud case

<p>UK&rsquo;s tax department, Her Majesty&#39;s Revenue and Customs (HMRC) has announced that they are the first country to seize NFTs in a fraud case. Three individuals have been arrested and along with them, &pound;5000 worth of digital assets was also seized. Three NFTs are still yet to be valued. The HMRC has not taken full control of the NFTs, but they have halted their sale through a court order. The department stated that this will serve as an example for anyone trying to hide money.</p>