DOJ Charges Ex-OpenSea Exec With NFT Insider Trading

This may be a very strange move as not many can understand if the insider trade might be done with an unregulated product, but we all need to be aware of the law on AML

Hopefully its not the beginning when it comes to many prosecutions related to NFTs.

“We know that there is a lot of insider trading in the industry, in NFTs” and in decentralized finance (DeFi)" according to New York City-based attorney Max Dilendorf, who specializes in cryptocurrencies and NFTs,

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Yeah one would think that an executive within the company would know better and have way more integrity than this…understanding that behavior such as this would be 1. Easy to identify and 2. It’s already being heavily watched under the microscope. It really doesn’t matter that it’s NFT’s to me because it’s still considered as an asset by the IRS and these things are highly regulated. The last thing anyone should be doing is playing with fire.

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