What are wash trading and money laundering in NFTs? By Cointelegraph
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What are wash trading and money laundering in NFTs?NFT wash trading is a problem for investors, the global community, collectors and traders because these participants use less liquid nonfungible tokens to manipulate the price of an asset.
Due diligence has become more difficult as investors have been forced to rely on measurable statistics, making wrong investment decisions. To encourage NFT investments and prevent NFT scams, discrepancies in the data must be investigated by specialists. Additionally, NFT crimes hit the NFT community the hardest. Regulators and proponents of mainstream financial services can now use wash trading to combat decentralization.
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What are wash trading and money laundering in NFTs?NFT wash trading is a problem for investors, the global community, collectors and traders because these participants use less liquid nonfungible tokens to manipulate the price of an asset.
Due diligence has become more difficult as investors have been forced to rely on measurable statistics, making wrong investment decisions. To encourage NFT investments and prevent NFT scams, discrepancies in the data must be investigated by specialists. Additionally, NFT crimes hit the NFT community the hardest. Regulators and proponents of mainstream financial services can now use wash trading to combat decentralization.
Continue Reading on Coin Telegraph
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