Senior U.S. Treasury Official: No Intention to Ban Cryptocurrency Mixers

2024-05-30 08:25:03

Collection

ChainCatcher news, according to CoinDesk, Brian Nelson, the Deputy Secretary of the Treasury for Terrorism and Financial Intelligence, stated at the Consensus conference that the U.S. Treasury has no intention of banning cryptocurrency mixing services.

The Financial Crimes Enforcement Network (FinCEN) proposed in 2023 to classify cryptocurrency mixers as a "major money laundering concern" and required virtual asset service providers (VASP) to report any cryptocurrency transactions involving mixers to the agency. Nelson stated that this proposal is not aimed at banning the use of mixers but is intended to enhance transparency. Nelson also expressed an understanding of cryptocurrency users' desire for financial privacy, but he suggested that the crypto industry and the Treasury should work together to find ways to enhance privacy without supporting terrorist financing.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.