According to PANews, Brian Nelson, the US Treasury Deputy Secretary in charge of terrorism and financial intelligence, has stated that the US Treasury has no intention of banning cryptocurrency mixing services. This announcement was made at a consensus conference. The Financial Crimes Enforcement Network (FinCEN) plans to classify cryptocurrency mixers as a 'major money laundering issue' by 2023 and requires Virtual Asset Service Providers (VASP) to report any crypto transactions involving mixers to the agency.
Nelson clarified that this proposal is not aimed at prohibiting the use of mixers, but rather to increase transparency. He also expressed understanding of the crypto users' desire for financial privacy. However, he suggested that the crypto industry and the Treasury should work together to find ways to enhance privacy without supporting terrorist financing.
