Bitcoin traded in negative territory in Monday morning’s early deals as investors failed to keep the momentum from the beginning of the month, amid high inflation and growing Russia-Ukraine tensions. Much like many of the heavy selling days in January, most of the leading digital currencies were trading in the red, with Bitcoin easing 0.5% to US$42,159.
HM Revenue and Customs recently seized non-fungible tokens for the first time amid fears that the digital art is increasingly attracting criminals.
The UK tax authority said it had seized three NFTs as part of an investigation into an attempt to defraud the taxman of £1.4mln. The three people arrested were said to be using methods such as stolen identities, pre-paid phones, false addresses, invoices and pretending to be a legitimate business.