Blockchain Integrity Act would see financial services banned from processing mixer-related transactions for two years. Defaulters would be subject to civil penalty of $100,000. Privacy coins could take a hit if new bill is approved. Following the announcement, privacy cryptocurrencies were down 2.4%. Also read: Democrats to introduce bill targeting crypto mixing services Casten targets crypto mixers with new bill The Blockchain Integrity Act, co-sponsored by Reps.
Read also: US intensifies battle against crypto privacy protocols following crackdown on Samourai Wallet As Casten states, financial institutions include cryptocurrency exchanges, virtual asset service providers , and other registered money service businesses . According to the bill, each violation would attract a civil penalty of $100,000.