UK seizes NFT associated with a tax fraud

The English government seized three files in NFT format, which were used to hide money from the authorities

For the first time, the United Kingdom managed to seize three files in NFT format, related to a case of tax fraud that used these assets to inflate their value and hide money from the tax authorities.

TheUK seizes NFT associated with a tax fraud (HMRC) unveiled an operation to dismantle a network of 250 fake companies that led to the arrest of three people for VAT fraud worth 1.4 million pounds. It is the first time that a UK law enforcement authority is able to seize three files in NFT format.

In this case, HMRC has not taken physical control of the digital tokens, stored through the blockchain, but rather has issued a court order that prevents the works of art from being sold.

The United Kingdom had previously acquired other crypto assets other than NFTs, and in all cases these have been put up for sale through public auctions.

K. Tovar

Source: Larepublica

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