09.05.2022
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 Compliance clarify 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. The picture “The first 5,000 Days” was the most expensive work of art to date in 2021, selling for $69.3 million.
As in all sectors in which high transaction volumes are the order of the day, the art market does not only attract 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, internationality and little supervision still makes it too easy for money launderers. But the international pressure for better control and thus also on the art sector is increasing.
For the whole podcast: https://spoti.fi/3wgHiJK
09.05.2022
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 Compliance clarify 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. The picture “The first 5,000 Days” was the most expensive work of art to date in 2021, selling for $69.3 million.
As in all sectors in which high transaction volumes are the order of the day, the art market does not only attract 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, internationality and little supervision still makes it too easy for money launderers. But the international pressure for better control and thus also on the art sector is increasing.
For the whole podcast: https://spoti.fi/3wgHiJK