Money laundering has recently become a major problem in NFTs arts that have worsened the bitcoin trading activities.

[MarkRoberts]

Money laundering has recently become a major problem in NFTs arts that have worsened the bitcoin trading activities.

According to Janczewski, buyers in countries with access to exchanges with more permissive know-your-customer (KYC) policies face more risk. Remember, without well-defined KYC and illicit Bitcoin, trade can be via exchanges and incrementally converted to fiat or vice versa.

Ironically, criminals who often trade in Bitcoin cannot escape to the long arm of the government. Contrary to the common assumption that bitcoin transaction remains anonymous. On the other hand, it should be known that crypto transactions are transparent and tamper-proof hence easy to trace and track and none can escape investigating authorities by a mere Telegram camouflage.


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