3 ms·
You have the chain of causation backwards. The law was rewritten, partly because: > many people and companies are now exploring NFTs as legal and taxed income,
by closewith 4y ago
You have the chain of causation backwards. The law was rewritten, partly because:
> many people and companies are now exploring NFTs as legal and taxed income, and most celebrities and companies selling NFTs in the last two years are not going through the same hardships as the OP.
Which is, of course, a breeding ground for money laundering if exempt from KYC/AML regulation.
- muffinthem 4y agoDoes this law target NFTs? Eventually a democratic society decides on its laws. If the citizens and taxpayers want to buy and sell NFTs on permissionless blockchains like Ethereum without being treated as criminals, the laws will have to change.
- closewith 4y agoI hate to break it to you, but there are many laws which are unpopular with a subset of a population, but which will not change in living memory. Globally, the trend is towards stricter and more comprehensive regulation of blockchain-based transactions. While you may prefer (as may I) a freer regulatory environment, the pendulum is swinging in the opposite direction.
- muffinthem 4y agoYou seem resigned to the fact that any artist that happens to sell above a certain threshold via NFTs will be treated as a criminal, and there is nothing to do but shrug and say that is the way the law is and forever will be in the EU.