FinCEN to class crypto mixers as source of primary ML concern

US financial intelligence unit FinCEN is to designate transactions involving international convertible virtual currency mixing (CVC mixing) a source of 'primary money laundering concern'. The move, the first time FinCEN has used its authority under Section 311 of the USA Patriot Act to target a class of transactions in this way, follows the Hamas attack on Israel on 7 October [2023], believed to have been funded with crypto.

Sara Lewis

US financial intelligence unit FinCEN is to designate transactions involving international convertible virtual currency mixing (CVC mixing) a source of 'primary money laundering concern'. The move, the first time FinCEN has used its authority under Section 311 of the USA Patriot Act to target a class of transactions in this way, follows the Hamas attack on Israel on 7 October [2023], believed to have been funded with crypto.