NFTs fall under gaze of global tax enforcement team
A group of tax enforcers from Australia, Canada, the Netherlands, the UK and US are examining how illicit financiers and tax dodgers are using “non-fungible tokens” (NFTs) to move money around, Politico reports.
Representatives from the five countries, dubbed the J5, announced their plans on 13 May after a week-long summit in London amid concerns that criminals are using crypto assets as a new means of subterfuge. Non-fungible tokens, or NFTs, are virtual collectibles in the form of art, songs or pieces of code that can be bought and sold online.
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