The article discusses the intersection of anti-money laundering (AML) compliance and the handling of Non-Fungible Tokens (NFTs) under German law or EU law applicable in Germany. It begins by acknowledging the negative perception of cryptocurrencies in the context of money laundering, emphasizing the need to explore AML regulations for NFTs, which have gained attention for tokenizing art. The text delves into the legal nature of NFTs, examining whether they can be classified as securities, asset investments, or crypto assets. It also explores the implications of these classifications on AML compliance, detailing the specific obligations for entities dealing with NFTs. The article concludes by highlighting the legal ambiguity surrounding NFTs and emphasizing the importance of conducting a case-by-case risk assessment for AML compliance.
| Identifer | oai:union.ndltd.org:DRESDEN/oai:qucosa:de:qucosa:88327 |
| Date | 28 November 2023 |
| Creators | Uhink, Konrad, Gruel, Hendrik, Neuhaus, Yannick |
| Source Sets | Hochschulschriftenserver (HSSS) der SLUB Dresden |
| Language | English |
| Detected Language | English |
| Type | info:eu-repo/semantics/publishedVersion, doc-type:article, info:eu-repo/semantics/article, doc-type:Text |
| Rights | info:eu-repo/semantics/openAccess |
| Relation | urn:nbn:de:bsz:15-qucosa2-881960, qucosa:88196 |
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