October 23, 2023  SEONews

US Wants To Officially Treat Crypto Anonymity Services As … – Slashdot

An anonymous reader quotes a report from Wired: Hamas’ attacks against Israel on October 7 have shifted the geopolitical landscape and triggered a looming Israeli ground assault in the Gaza Strip. Now the ripple effects are reaching the cryptocurrency industry, where they’ve become the United States Department of the Treasury’s rallying cry for a crackdown on cryptocurrency anonymity services. The US Treasury’s Financial Crimes Enforcement Network (FinCEN) [on October 19th] released a set of proposed rules that would designate foreign cryptocurrency “mixers” — services that blend users’ digital funds to offer more anonymity and make them harder to trace — as money laundering tools that pose a threat to national security and would thus face new sanctions and regulations. The new rules, if adopted following a 90-day period of public comment and debate, would potentially represent the broadest restrictions imposed yet on the mixing services and could make it far harder for…

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