PANews reported on May 29 that according to Politico, although the NFT market is no longer what it used to be, the Biden administration still believes that there are potential dangers to consumers. The U.S. Treasury Department will outline these concerns in its first NFT risk assessment released today, and Deputy Secretary Brian Nelson will also discuss the issue at the CoinDesk Consensus Conference in Austin.
The Treasury will warn that NFTs are vulnerable to fraud and scams, and are also vulnerable to theft. While it will emphasize that NFTs can be used to launder criminal proceeds, so far the Treasury has found little evidence of abuse by terrorists and weapons proliferators, unlike fraudsters.
