US Treasury Unit Deems Cryptocurrency ‘Mixers’ As ‘National Security Risks,’ Proposes Crackdown Amid Israel-Hamas Conflict

The Financial Crimes Enforcement Network (FinCEN), a unit of the U.S. Treasury Department, has proposed a new rule aimed at increasing transparency around cryptocurrency “mixers,” calling them a “national security risk.” This move is part of an effort to combat their use by groups such as Hamas.

As reported by Reuters, if the rule is finalized, financial firms will be required to report information about transactions that they suspect involve crypto mixers which are software tools that enable users to hide the source or owner of digital assets.

The proposal by FinCEN highlights the growing concerns among U.S. officials about the use of crypto for financing groups deemed…

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