In an unprecedented action, the U.S. Treasury Department has proposed regulations requiring additional record-keeping and reporting on mixer transactions
The Biden administration designated international cryptocurrency platforms commonly known as “mixers” as primary money-laundering hubs that threaten national security.
The U.S. Treasury Department’s unprecedented proposal—using laws usually deployed against foreign banks and foreign jurisdictions—will require special record-keeping and reporting for any financial transactions involving international mixers. The potential targeting of an entire class of transaction represents a significant regulatory step meant to shape the future of the global financial system.
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