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A comment on Ask HN: Is anyone else glad the crypto market is crashing?. Parent comment

Re:Ask HN: Is anyone else glad the crypto market is crashing? by missedthecue on Thursday May 12, 2022 @02:42PM (#31358409)
How is that money laundering? You'd have to buy ethereum with cash, but at that point why bother with the NFT? Just sell the Ethereum on coinbase and you've laundered the money.
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Re:Ask HN: Is anyone else glad the crypto market is crashing? by sertorius on Thursday May 12, 2022 @02:53PM (#31358583)
Coinbase has KYC ("Know your customer") policies explicitly to comply with anti-money laundering.

https://help.coinbase.com/en/coinbase/managing-my-account/up...

Edit: besides that, the point of 'laundering' money is basically to get it into a form where it is officially yours, in the light, with taxes paid. The NFT is a conceivably 'legitimate' transfer of value. I made a thing and sold it for money, and declared and paid tax on the capital gain - boom, legitimate.

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Re:Ask HN: Is anyone else glad the crypto market is crashing? by missedthecue on Thursday May 12, 2022 @03:34PM (#31359190)
well coinbase was an example. You can simply 'sell' yourself the ethereum. I just don't see the need to involve NFTs after you already own the crypto.
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