U.S. Treasury Isn’t Trying to Ban Crypto Mixers, Top Official Says

FinCEN’s proposal – along with an increasing number of enforcement actions by the U.S. Department of Justice against mixing services including Tornado Cash and Samourai Wallet – have been seen by many in the industry as evidence of a coming attempt to ban crypto mixing in the U.S. entirely, which the Treasury is firmly denying.

“At the end of the day, this [proposal] is not a ban on mixers,” Nelson said. “This is a proposed rule designed to drive transparency.”

Nelson said he’s sympathetic to crypto users’ desires for financial privacy, but suggested that the industry and Treasury should work together to find ways to enhance privacy without enabling terrorist financing.

Source: U.S. Treasury Isn’t Trying to Ban Crypto Mixers, Top Official Says