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Seems plausible if you can cover all traces of where your crypto came from, and considering NFTs stay unregulated by legislation/governments. If NFTs remain a
by skyzadev 6y ago
Seems plausible if you can cover all traces of where your crypto came from, and considering NFTs stay unregulated by legislation/governments.
If NFTs remain a thing after all the hype & fake demand fades then I am sure regulation for NFT purchases will come into effect to combat such practices.
- CryptoPunk 6y agoLetting people in law enforcement, and the banks deputized by the AML enforcement agencies, monitor all private financial interactions, in a warrantless dragnet manner, to make a 1% dent in crime [1], is a terrible trade-off. [1] https://www.ledgerinsights.com/anti-money-laundering-has-less-than-1-impact-on-crime-at-what-cost/ https://www.ledgerinsights.com/anti-money-laundering-has-les...
- skyzadev 6y agoToday it's really hard to exchange crypto for fiat without proving your identity first. Seeing as NFTs are in the same space, I can imagine similar regulations will get enforced for NFC market places. As for the effectiveness of such measures, well, that is another discussion for another time!
- CryptoPunk 6y agoNFTs aren't money, by definition (they are literally called non-fungible tokens, and money, by definition, is fungible). From a financial perspective, buying/selling them is no different than buying/selling traditional art work, and thankfully there are no AML/surveillance law requirements to report these types of transactions to the government. So sorry, there will be no warrantless mass-surveillance/KYC of NFT transactions that unmasks the parties to the transactions.