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
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Author: Sander Lutz
Tip BTC Newswire with Cryptocurrency