Hacker News Reader

How much is crypto currency to blame? Art has traditionally been a means to launder cash and evade taxes. The scarcity is what allows for this. Crypto is manufactured scarcity. Why go through the bother of buying and storing art when you can just buy crypto?

View on HN

This, there are now other options for moving large amounts of cash around.

Art used to be a good way to get around currency controls - David Walsh who built the MONA art museum I believe once said he first bought art and artifacts as a way to get cash winnings out of some countries.

Reply on news.ycombinator.com