Crypto Mixers Targeted in U.S. House Democrats’ Effort to ‘Clamp Down’ on Money Laundering

Several Democrats on the House Financial Services Committee have a bill coming this week to target money laundering through cryptocurrency mixing services, said Rep. Sean Casten (D-Ill.), one of its backers.

The legislation will “clamp down on mixers,” Casten said of the bill during a hearing Tuesday on U.S. securities enforcement practices, adding that the effort will also be supported by Reps. Brad Sherman (D-Calif.), Emanuel Cleaver (D-Mo.) and Bill Foster (D-Ill.)

“The presumption should be that these are money laundering channels,” Casten said, unless sufficient audit work shows otherwise. “Let’s go through and get that cleaned up and fixed.”

Source: Crypto Mixers Targeted in U.S. House Democrats’ Effort to ‘Clamp Down’ on Money Laundering