muffinthem

5 ms·

1.
by muffinthem 4y ago
You 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.
2.
by muffinthem 4y ago
I am not saying it is not the law - I am saying the law is ridiculous and incompatible with how users are choosing to transact through permissionless blockchains like Ethereum. I recognize that the OP is being criminalized and I am saying h
3.
by muffinthem 4y ago
Does 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 ch
4.
by muffinthem 4y ago
What you are suggesting is the criminalization of using Ethereum unless it is through a permissioned company. This would be a laughably draconian legal landscape. China and Russia’s bans on crypto is not something to look up to.
5.
by muffinthem 4y ago
> What you are describing is the use of permissionless contracts to avoid AML/KYC compliance law, which is partly what the Directives are designed to criminalise. The goal of this is not to avoid the KYC laws. Unfortunately the tec
6.
by muffinthem 4y ago
Laws change as society and technology advances. If your argument is that every permissionless NFT sale is illegal and criminal because it cannot be KYC’d, my argument is that this law is dumb and needs to be rewritten given that many people
7.
by muffinthem 4y ago
I am not saying KYC is not possible - I am saying the requirement that the seller does KYC - such as an invoice with customer details - on every transaction is not possible. Once an NFT is listed for sale through a permissionless contract,
8.
by muffinthem 4y ago
The author is showing expenses and receipts of purchases. They are extremely clear and in some cases easier to track to owners than dollar bills. A bar selling alcohol for dollar bills would have a far thinner paper trail than what this aut
9.
by muffinthem 4y ago
This is not fundamentally possible in peer to peer permissionless blockchains. The law as it is currently defined is not compatible with the technology and will need to be revised if the law wishes to consider NFT as high value art sale.
10.
by muffinthem 4y ago
Getting customer invoices per transaction is fundamentally not possible with the blockchain and peer-to-peer payment networks. What you suggest is that every individual and corporate entity who has sold a NFT should also be treated as crimi