In a February 4 statement, the US Treasury Department warned that NFTs could be used for money laundering.
The Ministry’s publications on the prevention of black money In the 40-page report, Some information on money laundering via NFTs Results is but any NFT sale in terrorist financing There is evidence to suggest that it did not exist.
In addition, it was emphasized in the report that as the NFT market became popular and expensive, it could be used more in illegal transactions.
In a statement on the official website of the Ministry of the Treasury,
The emerging digital arts industry, such as the use of non-fungible tokens (NFTs), may present new risks depending on demand and market incentives.
said.
In the report, the increasing NFT market and NFT marketplaces The volume was also noted. It has also been reported that NFT marketplaces can be considered “virtual asset service providers” by the Financial Action Task Force (FATF). In this direction, such platforms should know your customers. (KYC) and money laundering (AML) stated that they would be subject to prevention laws.
According to Chainalysis data, 110 wallet addresses last year with the “wash trading” method. 8.9 million dollars made a profit. It seems highly likely that criminals also have more profitable trading schemes, which is the act of artificially trading among themselves to increase the price rather than money laundering through NFTs.