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Today 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
by skyzadev 6y ago
Today 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.