Hold on to your virtual wallets, folks, because the world of cryptocurrency just got a whirlwind of attention from the US Treasury! In a significant move with a focus on the recent Hamas attacks on Israel, the US Treasury has put forth a proposal to categorize foreign cryptocurrency “mixer” services as money launderers and national security threats. This bold step highlights the growing concern regarding the potential misuse of cryptocurrencies in illicit activities. Let’s dive into the implications of this proposal and explore how it aims to safeguard national security.
With recent events bringing the Hamas attacks on Israel into sharp focus, the US Treasury has cast its gaze upon the world of cryptocurrency. In their proposal, foreign cryptocurrency “mixer” services are being targeted, with the aim to designate them as money launderers and national security threats.
But hold up, what exactly are these “mixer” services? Cryptocurrency mixers, also known as tumblers or blenders, are services that aim to increase the privacy and anonymity of cryptocurrency transactions. These services mix transactions together, making it more difficult to trace the origin and destination of the funds involved.
The US Treasury’s proposal underscores the concern that these mixer services can potentially be exploited for money laundering and other illicit activities. By designating them as money launderers and national security threats, the Treasury seeks to address
Original Article https://www.wired.com/story/us-treasury-crypto-mixer-hamas/