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What's really interesting are the terms of any payment made using Ether: "Please note that you may elect to make payment of the purchase price for this lot in
by kkielhofner 6y ago
What's really interesting are the terms of any payment made using Ether:
"Please note that you may elect to make payment of the purchase price for this lot in the cryptocurrency Ether. Payment in Ether must be made via a digital wallet transfer of Ether to Christie’s. The digital wallet must be maintained with Coinbase Custody Trust; Coinbase, Inc.; Fidelity Digital Assets Services, LLC; Gemini Trust Company, LLC; or Paxos Trust Company, LLC. Only Ether payments sent from digital wallets maintained at these platforms will be credited towards this lot purchase, and we will not recognize payments from digital wallets hosted at other exchanges or self-hosted wallets. The digital wallet must be registered to you, or, if you registered a bid as a company, then in the name of the company. You agree, upon our request, to provide documentation confirming that the Ether payment was made from a digital wallet registered in your name and maintained at one of the platforms listed above. Partial payments of a lot from multiple digital wallets will not be allowed."
It should be noted that all of these exchanges are US-based and comply with all know your customer and anti-money laundering laws, rules, and programs.
Doesn't mean that money laundering is impossible (US-based banks do it everyday) but it's interesting that they will take Ether but only from an extremely narrow list of whitelisted source Ether addresses.
Also makes you wonder what happens if you (somehow) send $70,000,000 to Christie's Ether wallet from a non-approved address. Presumably they wouldn't touch it and transfer it back but I suppose you never know...
- deleted 6y ago[deleted]
- pavlov 6y ago> "makes you wonder what happens if you (somehow) send $70,000,000 to Christie's Ether wallet from a non-approved address" Probably no different from sending an unagreed wire to their bank account? They'll just refund, maybe subtracting $50 for "processing" or whatever.
- tomp 6y agoI doubt it. That would mean getting their hands dirty with potentially illegal funds. If I was Christie’s I’d print the key on paper, send it to City’s most expensive lawyer firm, and delete any backups of the key.