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The NFTs were issued by Binance, the world’s largest crypto exchange. The lawsuit accuses both Ronaldo and Binance of "deceptive statements" to promote the "CR7" NFT collection, which was ...
Auction platforms for NFTs may face regulatory pressure to comply with anti-money laundering legislation. Gou Wenjun, the director of a monitoring centre for the People's Bank of China, said that NFTs could "easily become money-laundering tools". He pointed to unlawful exploitation of cryptographic technologies and said that illicit actors ...
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Apart from traditional cryptocurrencies, Non-Fungible Tokens (NFTs) are also commonly used in connection with money laundering activities. [100] NFTs are often used to perform Wash Trading by creating several different wallets for one individual, generating several fictitious sales and consequently selling the respective NFT to a third party ...
Legal scholars suggested that the money laundering opportunities may be more perceived than real. [209] Blockchain analysis company Chainalysis concluded that illicit activities like cybercrime, money laundering and terrorism financing made up only 0.15% of all crypto transactions conducted in 2021, representing a total of $14 billion. [210 ...
Watt pleaded guilty to money laundering in addition to his unlawful production of a document charge. Watt's customers were able to use fake IDs for several purposes, prosecutors said.
Later that month, OpenSea reimbursed users about $1.8 million after a user interface bug allowed users to buy more than $1 million worth of NFTs at a discount. [16] [17] On January 27, 2022, OpenSea announced it would limit how many NFTs a user could create using the free minting tool. [18] The following day, OpenSea reversed the decision. [19]
By Nate Raymond (Reuters) -The U.S. Supreme Court on Thursday declined to block enforcement of an anti-money laundering law that forces millions of business entities to disclose the identities of ...