NFTs are not currently illegal, but their legal status is still somewhat uncertain. This is because NFTs are a relatively new technology, and governments and regulatory bodies have not yet had the opportunity to fully evaluate them and determine how they should be treated under the law.
Some people have suggested that NFTs could be classified as securities, which would subject them to certain regulations. Others have argued that NFTs should be exempt from securities laws because they do not represent an investment in a company or enterprise.
The truth is, it is still too early to say for sure how NFTs will ultimately be regulated. However, it is clear that there is a lot of interest in this new technology, and it is likely that we will see more clarification on its legal status in the future.
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