NTF’s for money laundering?
Due to the artistic and technological characteristics of NFTs, some countries have considered them as an activity that tends to be used to launder resources of illicit origin. So much so, that FATF has recommended that countries do a case-by-case study to determine when NFTs are subject to a regulation to prevent money laundering and combat terrorist financing (“AML/AFT”).
In the case of Mexico and within the framework of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin, it is considered that the NFT’s should be subject to the AML/AFT regulation, in the following cases:
- Commercialization or auction, habitual or professional, of NFT’s, when the amount of the operation exceeds $10,361.24 USD.
- NFT’s exchange, purchase, custody, storage or transfer platform, regardless of the amount in USD of the operations.
Diego A. Ramos Castillo
dramos@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Antonio Casas Vessi
acasas@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Paulina Martínez Chávez
pmartinez@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Frida Sofía Rojas Cuéllar
srojas@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Rodrigo Ramos Hopkins
ramosr@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
Daniela Morales González
dmorales@rrs.com.mx
RAMOS, RIPOLL & SCHUSTER
