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Comment by skyzadev | Hacker News Reader

Seems plausible if you can cover all traces of where your crypto came from, and considering NFTs stay unregulated by legislation/governments.

If NFTs remain a thing after all the hype & fake demand fades then I am sure regulation for NFT purchases will come into effect to combat such practices.

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Letting people in law enforcement, and the banks deputized by the AML enforcement agencies, monitor all private financial interactions, in a warrantless dragnet manner, to make a 1% dent in crime [1], is a terrible trade-off.

[1] https://www.ledgerinsights.com/anti-money-laundering-has-les...

Today it's really hard to exchange crypto for fiat without proving your identity first.

Seeing as NFTs are in the same space, I can imagine similar regulations will get enforced for NFC market places.

As for the effectiveness of such measures, well, that is another discussion for another time!

NFTs aren't money, by definition (they are literally called non-fungible tokens, and money, by definition, is fungible). From a financial perspective, buying/selling them is no different than buying/selling traditional art work, and thankfully there are no AML/surveillance law requirements to report these types of transactions to the government.

So sorry, there will be no warrantless mass-surveillance/KYC of NFT transactions that unmasks the parties to the transactions.

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