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4 - Digital Assets, Anti-Money Laundering, and Counter Financing of Terrorism

An Analysis of Evolving Regulations and Enforcement in the Era of NFTs

from Part II - Financial Regulation and Investor Protection

Published online by Cambridge University Press:  02 November 2024

By
Nizan Geslevich Packin  and
Uri Volovelsky
Edited by
Nizan Geslevich Packin
Nizan Geslevich Packin
Affiliation:
Baruch College (City University of New York)
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Summary

This chapter delves into the intricate relationship between digital assets, specifically non-fungible tokens (NFTs), and the regulatory landscape of anti-money laundering (AML) and counter financing of terrorism (CFT). With the rapid emergence of NFTs, new challenges and opportunities have arisen, necessitating an exploration of evolving regulatory frameworks and enforcement measures to combat AML and CFT risks associated with digital assets. This chapter focuses on the unique characteristics of NFTs, AML, and CFT risks within the NFT market, global regulatory developments, compliance challenges, technological solutions, enforcement actions, collaborative efforts, and future trends. By analyzing these aspects, this chapter aims to provide insights for policy-makers, regulators, scholars, and industry participants in effectively addressing financial crime risks in the digital asset landscape.

Keywords

NFTsanti-money laundering (AML)Counter Financing Terrorism (CFT)financial crimesblockchiancryptoassetsFATF
Type
Chapter
Information
The Cambridge Handbook of Law and Policy for NFTs , pp. 78 - 102
Publisher: Cambridge University Press
Print publication year: 2024

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