This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
How Did NFTs Become SEC’s Newest Crypto Target?
The Securities and Exchange Commission (SEC) is finally taking a harder look at NFTs.
In a long-telegraphed move, the SEC has begun sending out demands for information about projects that use nonfungible tokens (NFTs) to fractionalize everything from fine art to real estate to other, more valuable NFTs, Bloomberg reported.
NFTs are a type of cryptocurrency that can hold a media file like video, images or data, which cannot be changed once minted. Since they are recorded onto a blockchain, they also provide proof of provenance.