Crypto money laundering and how valuable are stolen NFT's

So, in yesterday's newsletter, Blockworks wrote about money laundering and this is what he discussed about.

One of the points discussed were stolen NFTs and their value. I think he offered the most concise explanation of what an NFT is and how it works.

Basically, he explained why a stolen NFT loses its value since it can't be sold on OpenSea and you can't use it as a profile picture anywhere.

Your only chance is to sell it to someone that's either ignorant or doesn't know it's stolen for 20 to 40% of its value.

Another interesting idea was about KYC and its utility. Why and how you might wonder?

Well, to prevent "dirty money" and money laundering. As he puts it, hacking attempts can be discouraged, more institutional investors might feel safer and decide to put their money into digital assets thus increasing trust in this field and removing the criminal aura that is attributed to crypto-related businesses.

What do you think, have you read the newsletter? I must admit that I am more a fan of decentralization rather than centralization and KYC and I think there are solutions for the decentralized part of crypto as well. I'll leave you with a video about the biggest crypto scams: https://www.youtube.com/watch?v=Jy0QQKBCS78

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