Dr. Pascal Decker in conversation with NFT Talk, the German NFT Podcast with Viktor Foos. Together with Lena Olschewski from legeARTIS, he talks about what crypto and NFTs have to do with money laundering.

How does money laundering work with NFT artwork? The Senior Compliance Manager and one of the two Managing Directors of legeARTIS answer these and many other questions in the NFT podcast. The joint venture between dtb rechtsanwälte and Kerberos Compliance specializes in money laundering compliance for the art market. NFTs also play a role here. "Non-fungible tokens" have been a household name in the art scene since 2021 at the latest. With the painting "The first 5,000 Days", the most expensive work of art to date was sold for 69.3 million US dollars in 2021.

As in all industries where high transaction volumes are the order of the day, the art market is not only attracting legal investors. NFTs are paid for with crypto assets. In 2021 alone, around 8.6 billion US dollars were laundered with them. The number of unreported cases is likely to be much higher. The anonymity, international nature and low level of supervision still make it too easy for money launderers. However, international pressure for better control and therefore also on the art sector is increasing.

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