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hfdk
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At the Consensus conference, Brian Nelson, Deputy Secretary of the Treasury for Terrorism and Financial Intelligence, stated that the Treasury has no intention of banning cryptocurrency hybrid services. Nelson explained that the Financial Crime Enforcement Network (FinCEN) proposal for 2023 aims to list mixers as a "major money laundering issue" and requires virtual asset service providers (VASPs) to report encrypted transactions involving mixing to promote transparency, rather than banning mixers. Although industry insiders are concerned that this proposal may lead to a comprehensive ban on cryptocurrency hybrid services, Nelson clarified that this is only to prevent money laundering and the financing of terrorism. The Ministry of Finance hopes to collaborate with the industry to develop tools to enhance privacy without supporting illegal activities. Blockchain applications @fkb @xmehdi.eth
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