The U.K. is forging ahead with its plans to regulate the crypto sector. Members of the UKParliament are afraid that NFT speculation may be a 'bubble,' and have added amendments that would recognize crypto as a regulated activity.
U.K. lawmakers want to hear what the public thinks about regulating non-fungible tokens that they fear are often overvalued.
The Digital, Culture, Media and Sport Committee that consists of members from different political parties launchedon Thursday on the operation, risks and benefits of NFTs, digital assets on a blockchain that represent ownership of virtual or physical items. NFT's have garnered attention from celebrity endorsements, while the popularity of the virtual world that allows people to buy and sell these tokens, the metaverse, only pumped their value. By the end of March 2021 global NFT sales topped $17 billionNow U.K. members of Parliament are afraid that NFT speculation may be a"
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