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End of Secrecy for NFTs in USA – This New Law Changes the Game

End of Secrecy for NFTs in USA – This New Law Changes the Game

NFTs can no longer play hide and seek – A US federal agency requires it Senior officers Be Light penetrates Regarding their assets Fungible Tokens (NFT).

Lifting the veil at the highest level on NFTs

Emory Arthur Rounds IIIDirectorOffice of Govt Ethics In America, it marks the end of the opacity surrounding possession NFT By politicians. A Notice A legal document dated 15th July last, it is now imposed Senior officers an obligation disclosure Their investments in fungible tokens.

Most NFTs cannot slip through the cracks with many provisions in the notification. One of them mentions“At the end of the reporting period”Relevant parties should be transparent about their NFTs “Held for the purpose of investment or income generation”and whose value is diminished $1,000.

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Profitable investments subject to close scrutiny

This rule applies to both split NFTs and collections. She is so much more binding For high return investments A certain limit Who wouldn’t benefit from this $1,000 margin?

It is clarified in the notice that the high officials who made the profit Over $200 in their NFTs during the reporting period to express their investments, freely The value of their non-fungible token holdings.

Transparency: Personal and Family Exemption

So announcers have to reveal themselves, or nearly so. The notification obliges them to disclose purchases, sales and trades of NFTs related to collections and fractional NFTs. “Deemed Securities”.

Only NFTs will be linked personal property, Family or A Homeworkand it will be used in this structure, not for investment purposes or for generating income, to escape This report is mandatory.

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NFTs are now on the radar of the US Office of Government Ethics. The Transparency Of course allowsAvoid conflicts Hidden interests as the country’s authorities continue to work on regulating and legislating digital assets in general. This notification obligation can also be seen as a logical consequence of NFTs entering politics, with a former decentralized financier. Fund his election campaign with fungible tokens.

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