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Citing North Korea and Hamas, US Officials Act Against Cryptocurrency Mixing

By Fred Williams

Exchanges and other institutions that directly handle payments to and from cryptocurrency mixers would have to record and submit the names, email addresses and other details of the underlying parties to the U.S. financial intelligence unit under a plan pitched Thursday. Pursuant to the plan, the Treasury Department's Financial Crimes Enforcement Network, or FinCEN, proposed to designate any and all forms of "convertible virtual currency mixing" as a "primary money laundering concern," marking the first use of the blanket authority U.S. lawmakers granted the bureau more than two decades ago through section 311 of the Patriot Act. Mixers have already...

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