HM Treasury proposes expanding its money laundering regulations to capture a broader range of digital asset activities, including non-fungible token (NFT) issuance

The new rules will require businesses dealing with NFTs to conduct customer due diligence and report suspicious activities to the authorities. The move aims to bring NFTs under the same AML regulations as other digital assets like cryptocurrencies. This decision comes as NFTs have gained popularity and value in recent years, leading to concerns about their potential use in illicit activities…