The US Treasury’s Financial Crimes Enforcement Network recently published a proposal regarding the mixing of what they call “convertible virtual currencies” or CVCs.
Cryptocurrency transactions can be “mixed” via certain services in an effort to hide origins and quantities from any forms of surveillance.
The proposal is not a bill, the chief legal and policy officer at Polygon Labs Rebecca Rettig explains, but is a set of rules that the regulatory agency has proposed. The rules aim to curb money laundering and address the obfuscation of illicit flows of funds via crypto mixing mechanisms.
But the risks of such a proposal may outweigh the benefits, Rettig says. Now, she…
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