Bitcoin financial service company Swan Bitcoin will ban accounts that interact directly with mixing services

ChainCatcher news, Bitcoin financial services company Swan Bitcoin announced that it will ban user accounts that directly interact with mixing services. Swan Bitcoin explained that this change is due to pressure from its banking partners in light of proposed rules by the Financial Crimes Enforcement Network (FinCEN), which aim to require institutions facilitating transactions like mixing services to report relevant information.

Swan Bitcoin co-founder and CTO Yan Pritzker stated that while the company itself has an open policy allowing mixing as a privacy service, it cannot provide deposit services to customers if it cannot work with compliant custodians and banks. Swan Bitcoin prefers to completely avoid risk rather than engage in investigative work.