FinCEN Proposes Special Measure Targeting Convertible Virtual Currency Mixing
FinCEN proposed identifying international convertible virtual currency mixing as a class of transactions of primary money-laundering concern and imposing special reporting measures. The proposal expressly stated that its CVC definition included Bitcoin, making coin-mixing and privacy practices part of a direct U.S.
FinCEN proposed identifying international convertible virtual currency mixing as a class of transactions of primary money-laundering concern and imposing special reporting measures. The proposal expressly stated that its CVC definition included Bitcoin, making coin-mixing and privacy practices part of a direct U.S. regulatory debate.
The practical Bitcoin channel was direct Bitcoin privacy/transaction infrastructure. The measure or case operated through law, licensing, custody, trading, or compliance rather than changing Bitcoin's protocol; where allegations or proposals were involved, they remained allegations or proposals at this stage.
The Bitcoin connection ran through bitcoin privacy/transaction infrastructure. Major proposed AML measure affecting Bitcoin coinjoin/mixing privacy tools.
NPRM, not final rule.