bt-crow.com
01 December 2021 18:33, UTC
Reading time: ~ 2 m
After China made the decision to stop all sorts of activities related to cryptocurrencies, a “big road” opened up for the NFT market, because all traders redirected their interest to trading non-fungible tokens. It would seem that the main threat that the authorities saw in digital assets is already behind, but the Central Bank recently announced its intention to monitor all functioning NFTs, as they can be involved in various fraudulent schemes and used for money laundering.
Gou Wenjun, head of the money laundering division of the Central Bank of China, shared similar assumptions regarding the risks that NFT markets could entail. By the way, a lot of time was devoted to the discussion of this issue – at the summit on national financial security, where the discussion “flared up”, the topic of NFT was discussed for quite a long time.
As a result of Wenjun’s lengthy presentation, it was proposed to create a working group that would monitor the activities of NFT markets. The People’s Bank of China does not exclude that not only ex-cryptocurrencies eager for privacy will join the trade in non-fungible tokens, but also attackers who want to avoid paying taxes or hide their illegally obtained profits.
In more detail about what steps will be taken to improve security in the industry of NFT markets, the Central Bank promises to report a little later, after the development of an appropriate action plan by specialized specialists.
As a reminder, we previously reported that the South Korean government is not interested in regulating the NFT market.
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