News for hackers. Stuff that matters.

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 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.

[ Parent | on HN ]
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.
[ Parent | on HN ]