[muffinthem]

I am not saying it is not the law - I am saying the law is ridiculous and incompatible with how users are choosing to transact through permissionless blockchains like Ethereum. I recognize that the OP is being criminalized and I am saying he should not be treated as a criminal for selling art through NFTs simply because there is no regulatory framework for dealing with the lack of KYC on transactions above an arbitrary threshold. If you feel this opinion is delusional I’m not sure it’s really worth continuing this discussion.

[gizmo]

One of the primary ways of fighting organized crime is by going after the money. If you can stop people from enjoying the spoils of their crime you win. It’s a constant battle. If illicit funds are funneled through shell companies and a dozen different jurisdictions there is almost no way to prove the money is dirty anymore. So governments pass laws to force transparency.

That’s why companies have to report who their Ultimately Beneficial Owners are, and that’s why there are reporting requirements for the kinds of transactions that are used for money laundering.

Money laundering is a big deal and governments around the world are fighting hard against it. Crypto has gotten too big and now it’s getting regulated. People who believed wrongly that the law wouldn’t apply to them are now getting a wake-up call.