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US targets cryptocurrency mixers over money laundering risks
The Biden administration has designated international cryptocurrency exchanges, commonly known as “mixers,” as major money laundering hubs that threaten national security.
The U.S. Treasury Department’s unprecedented proposal, which builds on laws typically applied against foreign banks and jurisdictions, would require special records and reporting for any financial transactions involving international financial intermediaries. The potential targeting of an entire class of transactions represents a significant regulatory step that could shape the future of the global financial system.
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