Global Stock News

U.S. Treasury takes dramatic U-turn on crypto mixers

U.S. Treasury takes dramatic U-turn on crypto mixers

The U.S. Department of the Treasury has acknowledged the lawful privacy usage of crypto mixers in its new report, marking a dramatic U-turn from its previous opposition to the service.

A crypto mixer is a service that allows users to encrypt their digital asset transactions by pooling the cryptocurrencies from multiple sources. These services make it extremely difficult to trace the flow of assets from one wallet to another over a ledger which has made them very popular among users who prefer financial privacy.

But bad actors have also used crypto mixers to launder crypto assets because law enforcement authorities find it nearly impossible to trace funds.

Related: U.S. Treasury lifts sanctions against Tornado Cash

Scroll to Top