Insights

NFTs: A Wonderful Way to Launder Money?

The story comes from The Street, and it alleges that “$284,000 worth of cryptocurrency was sent to NFT marketplaces from addresses with sanctions risk, which refers to direct exposure to embargoed jurisdictions or entities included on sanctions lists.” and because of this clearly the NFTs are associated with money laundering. The report ignores that art, whether digital or not, has always been a known haven of illicit laundering.

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