In a most novel Crackdown on Tax Invaders, UK makes its first NFT confiscation

On Monday 14th Feb 2022, British tax authorities claimed that they’d completed their first confiscation of non-fungible tokens or NFTs in a clampdown on alleged illegal money hiding racket.

In an try to analysis the general public treasuries 1.4 million kilos (or $1.9 million) defraud, Earnings & Customs department of Her Majesty seized three NFTs. Different cryptocurrency sources valued around £5,000 had been also confiscated. The investigation resulted in the appealing of three personnel for purported fraud which supposedly involved 250 unsuitable companies within the label added tax reimbursement rip-off.

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