Environmental, Social, and Governance (ESG) criteria have emerged as critical indicators for evaluating long-term companies’ resilience and investments’ ethical implications. Anti-money laundering laws and regulations are crucial to good practices in governance, and they are becoming even more essential now that the use of blockchain and cryptocurrencies raises concerns about possible misconduct facilitated by these new technologies. Among alternative assets, this chapter focuses specifically on real estate and fine art, which are notably vulnerable to money laundering. Firstly, we provide an overview of the key characteristics of these industries, which make them attractive to money launderers. Secondly, we investigate why the misuse of blockchain and cryptocurrencies can facilitate criminal activities, analysing the case of Tornado Cash, an Ethereum smart contract mixer. Finally, a different perspective on blockchain is introduced. The technology has a broader scope and applications beyond cryptocurrencies, and it can help increase transparency and promote sustainable finance objectives. Key findings are that blockchain technology can be a double-edged sword for governance and sustainable finance but has great potential to benefit society. What is crucial is an interdisciplinary approach and a comprehensive understanding of blockchain and related technologies to help policymakers and regulators shape effective policies and regulations.