The Biden administration designated international cryptocurrency platforms commonly known as “mixers” as major money laundering hubs that threaten national security.
The U.S. Treasury Department's unprecedented proposal (using laws typically enforced against foreign banks and foreign jurisdictions) will require special recordkeeping and reporting for any financial transactions involving international mixers. The potential targeting of an entire class of transactions represents an important regulatory step aimed at shaping the future of the global financial system.
Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8