An illustration taken in London on Dec 30, 2021, shows gold-plated souvenir cryptocurrency coins arranged by a screen displaying an NFT logo. (AFP photo)
The Securities and Exchange Commission (SEC) is securing control of the trade of non-fungible tokens (NFTs) as it plans to require operators of NFT marketplaces to apply for a business licence.
Analysts expect tighter regulations will drive many market participants to flee to foreign platforms to avoid legal complications.
Although NFTs are not defined in the Digital Asset Business Act, their function as a coin that represents a holder’s ownership or rights to some unique assets such as art, music, pictures or…
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