{"id":35950,"date":"2023-01-05T10:02:12","date_gmt":"2023-01-05T10:02:12","guid":{"rendered":"https:\/\/lydian.io\/?p=35950"},"modified":"2023-01-05T10:02:12","modified_gmt":"2023-01-05T10:02:12","slug":"uk-lawmakers-launch-probe-into-nft-regulation-there-are-fears-the-bubble-could-burst","status":"publish","type":"post","link":"https:\/\/lydian.io\/uk-lawmakers-launch-probe-into-nft-regulation-there-are-fears-the-bubble-could-burst\/","title":{"rendered":"UK lawmakers launch probe into NFT regulation - 'there are fears the bubble could burst'","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Members of the UK Digital, Tradition, Media and Sport Committee have launched an investigation to tell the general public concerning the potential advantages and dangers of non-fungible tokens or NFTs and blockchain to the nation's financial system.<\/p>\n
In a Nov. 4 announcement, the DCMS committee stated said<\/a> Their investigation associated to the sudden development of the NFT market, responding to fears that the property could also be overvalued and susceptible to the bubble bursting. Based on the committee, NFT regulation is \u201clargely non-existent\u201d within the UK because the DCMS plans to worth the property forward of a Treasury evaluation.<\/p>\n What are the dangers and advantages of NFTs and the broader blockchain? We wish to assess whether or not NFT traders, notably weak speculators, are in danger from the market and whether or not there's a want for regulation. See for particulars https:\/\/t.co\/C93XGBV7Ab<\/a> pic.twitter.com\/dvMTSwPYv1<\/a><\/p>\n