What are the money-laundering risks with non-fungible tokens (“NFT’s”) and Decentralized Finance (“DeFI”)?
Non-fungible tokens (“NFT’s) were born with the advent of Crypto-Kitties in 2017, operating on Ethereum. NFT’s allow specific individual things to be sold and traded on the blockchain. They are both scarce and more importantly can be unique, unlike a fungible commodity such as Bitcoin. Buyers can thus purchase individual NFT’s, and then resell…
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