Decentralized finance, or DeFi, services in the U.S. must follow the same anti-money laundering and combating-the-financing-of-terrorism rules that apply to banks and other mainstream financial institutions, officials with the Treasury Department warned Thursday.
U.S. officials took the rare step of de-listing, then re-listing, a cryptocurrency "mixer" Tuesday to more narrowly target the service's use by North Korea, potentially signaling their intent to take action against other anonymity-enhancing services that fail to prevent financial crime.
A U.S. indictment against two founders of Tornado Cash, a “mixer” accused of handling hundreds of millions of dollars of illicit cryptocurrency, appears to call for a major expansion of anti-money laundering rules in the virtual assets industry, analysts told ACAMS moneylaundering.com.