Five Democratic congressmen have proposed a bill to ban cryptocurrency mixers for two years while the Treasury Department studies and reports on them.
The bill introduced in the House would impose a fine of up to $100,000 for handling funds from mixers while Treasury writes a report.
A bill has been introduced in the United States House of Representatives to ban cryptocurrency mixers for two years. Called the Blockchain Integrity Act, it is sponsored by five Democratic congressmen led by Sean Casten.a crypto mixer in a statement as a pool that allows users to “generate a new address and withdraw their funds without revealing the link between the depositor and withdrawal addresses.
“Cryptocurrency’s intention is right there in its name, a form of ‘hidden money.’ Terrorist groups, sanction evaders, tax evaders, cyber criminals, etc. all use mixers to obscure their illicit activity.”with mixer Tornado Cash on its list of Specially Designated Nationals in August 2022, effectively barring U.S. citizens from using it.
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