The US Treasury’s Financial Crimes Enforcement Network today released a set of proposed rules that would designate foreign cryptocurrency “mixers”—services that blend users’ digital funds to offer more anonymity and make them harder to trace—as money laundering tools that pose a threat to national security and would thus face new sanctions and regulations.
” Redbord, who previously served as an advisor to the Treasury’s undersecretary for Terrorism and Financial Intelligence, also notes that the proposal was no doubt being considered prior to the latest Hamas attacks and that the Treasury must have changed the proposal’s focus from the use of cryptocurrency by other national security threats, like North Korea and Russia, to Hamas and militant groups in recent days.