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NFTs are not crypto. You might want to brush up on your knowledge before making a silly statement like that.UK makes first seizure of NFTs in tax crackdown
British tax authorities said on Monday they had made their first seizure of non-fungible tokens in a crackdown on suspected criminal activity to hide money.www.cnn.com
It looks like the libertarian wet dream of using crypto to create a shadow economy might be overrated. The governments can get to it too.
You might want to brush up on how NFTs work before your silly statement as they are subject to the same type of potential obfuscation that crypto is.NFTs are not crypto. You might want to brush up on your knowledge before making a silly statement like that.
Do you even know what NFT stands for? I'll give you a hint: crypto is fungible.You might want to brush up on how NFTs work before your silly statement as they are subject to the same type of potential obfuscation that crypto is.
And the security is still based on being able to hide your account in a blockchain, whether it is a NFT or a crypto currency directly. The acronym of Non Fungible Token adds nothing to this discussion The obfuscation of an account being a hexidecimal address is still the same either way and it was broken by the UK. Crypto and NFTs are shown to be traceable and taxable since they both rely on the same mechanism I outlined.Do you even know what NFT stands for? I'll give you a hint: crypto is fungible.
Do you even know what NFT stands for? I'll give you a hint: crypto is fungible.
Compared to general crypto even, NFTs are just a flat out scam. US law would not uphold NFT contracts because you cant sell moments, copyright only applies to human created IP and not computer generated art, and while the software parts have some usable applications, the NFTs themselves are basically glorified receipts that crypto bros buy from themselves to jack up the price.UK makes first seizure of NFTs in tax crackdown
British tax authorities said on Monday they had made their first seizure of non-fungible tokens in a crackdown on suspected criminal activity to hide money.www.cnn.com
It looks like the libertarian wet dream of using crypto to create a shadow economy might be overrated. The governments can get to it too.
We know, but they use similar methods for tax avoidance which is why this thread exists.Do you even know what NFT stands for? I'll give you a hint: crypto is fungible.
It's an interesting question on copyright, take one of the more popular NFT's, the NBA's TopShot. I mean they license it to me and I bought it, I should own the copyright as far as my own use of it.Compared to general crypto even, NFTs are just a flat out scam. US law would not uphold NFT contracts because you cant sell moments, copyright only applies to human created IP and not computer generated art, and while the software parts have some usable applications, the NFTs themselves are basically glorified receipts that crypto bros buy from themselves to jack up the price.
Hmmm...Anyone know the laws or copyright agreement with the TopShot NFT's?
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