NFTs POSE SIMILAR MONEY LAUNDERING RISKS TO ART
September 1st, 2021
There is much about the world of blockchain and cryptocurrencies that may seem obscure to the uninitiated, but the recent growth in the market for non-fungible tokens (NFTs) in particular has perplexed many onlookers: Why, for example, would anyone spend USD69 million on a jpeg collage featuring, among other artworks, an image of Tom Hanks beating up an anthropomorphic coronavirus? (1)
Like more conventional art, how buyers decide what an NFT is worth to them, whether it is for their own satisfaction or for profitable resale, is complicated. Anti-money ...
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