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cryptonews
2022-02-14 15:04:00

UK Tax Authority Confiscates 3 NFTs in Fraud Case as a First

UK Tax Authority Confiscates 3 NFTs in Fraud Case as a First

As part of its probe into a potential value-added tax (VAT) fraud, UK tax authority Her Majesty's Revenue and Customs (HRMC) has confiscated three non-fungible tokens (NFTs) in what represents the first seizure of such assets by a British government institution. On HMRC’s initiative, three persons accused of attempting to defraud the agency of some GBP 1.4m (USD 1.9m) had been arrested, UK broadcaster BBC reported....Read More: UK Tax Authority Confiscates 3 NFTs in Fraud Case as a First

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