Are NFTs for money laundering?

NIFTYHYPE Editors
Answered 
11.04.2022

Some people have raised concerns that NFTs could be used for money laundering. While it is possible to use NFTs for illicit activity, there are also a number of ways to track and trace transactions involving NFTs. In addition, the transparency of the blockchain means that it would be very difficult to use NFTs for money laundering without being caught.

Overall, NFTs do not seem to be particularly well-suited for money laundering. However, as with any new technology, it is important to monitor how NFTs are used and to ensure that proper safeguards are in place to prevent misuse.

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