U.S. Department of the Treasury published a report on the market for high-value artwork, which highlighted the potential of the nonfungible tokens (NFT), space to carry out illicit money laundering operations or terrorist financing operations.

The treasury’s “Study of the facilitation of money laundering and terror finance through the trade in works of art” suggested that the increasing use of art as an investment or financial asset could make the high-value art trades vulnerable to money laundering: