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Biden Administration Plans to Designate International Mixers As Money-Laundering Hubs
Summary: The Biden Administration is set to designate international "mixers," which are cryptocurrency exchanges that offer anonymity to their customers, as money-laundering hubs posing a threat to national security. This designation will effectively impose sanctions on these exchanges and require them to adhere to special reporting requirements for all financial transactions. Deputy Secretary of the Treasury ...
The Biden Administration is set to designate international "mixers," which are cryptocurrency exchanges that offer anonymity to their customers, as money-laundering hubs posing a threat to national security. This designation will effectively impose sanctions on these exchanges and require them to adhere to special reporting requirements for all financial transactions.
Deputy Secretary of the Treasury Wally Adeyemo stated, "Today’s action highlights the Treasury's commitment to combat the exploitation of Convertible Virtual Currency mixing by a wide range of illicit actors, including state-affiliated cyber actors, cyber criminals, and terrorist groups. Furthermore, the Treasury Department is actively working to counter the illicit use of various aspects of the Convertible Virtual Currency ecosystem by terrorist organizations such as Hamas and Palestinian Islamic Jihad."
Author: Katie Lin
Tags: laundering,mixers,money,Wally Adeyemo
Link: Biden Administration Plans to Designate International Mixers As Money-Laundering Hubs [Copy]
