The U.S. Treasury Department announced Thursday that it seeks to issue a blanket designation that all cryptocurrency “mixers,” which allow crypto users to make on-chain transactions anonymously, be considered money-laundering hubs that threaten America’s national security.

The proposed rule, if adopted, would require financial institutions to report any information about any financial transaction that it knows or would have reason to suspect involved crypto coin mixers operating either within or outside of the United States. The policy now opens to a 90 day period for public comment. 

The proposal constitutes a marked escalation in the U.S. government’s attitude towards so-called crypto mixers. Last year, the Treasury Department sanctioned Tornado Cash, one such mixer that let users make private transactions on the Ethereum network.

At the time, Treasury officials cited the platform’s use by enemies of the U.S. government including Lazarus Group, a North Korean state-sponsored hacking group, to justify the blacklisting. But Thursday’s reported announ

Go to Source to See Full Article
Author: Sander Lutz

Did you like this?
Tip BTC Newswire with Cryptocurrency

Donate Bitcoin to BTC Newswire

Scan to Donate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to BTC Newswire

Scan to Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to BTC Newswire

Scan to Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to BTC Newswire

Scan to Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to BTC Newswire

Scan to Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to BTC Newswire

Scan to Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:

BTC NewswireAuthor posts

BTC Newswire Crypto News at your Fingertips

Comments are disabled.