How Will US Money Laundering Crackdown Actually Impact the Art Market? A Lawyer Explains
Nick O'Donnell authored the article, "How Will US Money Laundering Crackdown Actually Impact the Art Market? A Lawyer Explains," which was published in The Art Newspaper on January 6, 2021.
In the article, Nick warns that Congress is aiming to increase art market regulations and suggests that now is the time for the market to respond if it wants to be involved in determining the scope and nature of this oversight: "Whatever one thinks of the regulations or the regulators, these things are happening. And while it is questionable whether FinCEN is the right body to conduct a study of the art market, the market has a choice here. We can complain, or we can get involved in the dialogue. I would rather be at the table in the discussion than outside the room."