ICYMI: Treasury Department report warns NFTs could be used money laundering
February 4, 2022, 4:31PM EST · 1 min readThe United States Department of Treasury released a report describing how the non-fungible tokens art market fits into money laundering schemes.
The Treasury writes that while NFTs offer “new opportunities for exploration of creative media” and take up only $1.5 billion of the US’s $20 billion share in the total art market, criminals may use NFTs in financial crime by using funds from illegal activities to make seemingly legitimate digital art purchases.
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