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This bill specifies that certain non-fungible tokens (NFTs) are not subject to federal securities laws. It defines 'covered non-fungible tokens' as NFTs developed primarily for personal use—such as art, collectibles, virtual assets, credentials, or tickets—excluding those marketed as investments or designed to increase in value. The bill also requires the Comptroller General to conduct a comprehensive study of NFT markets, including their nature, risks, integration with traditional commerce, and illicit activity.
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