- The Treasury Department is designating international cryptocurrency mixers as money laundering hubs and requiring special reporting for any financial transactions involving these entities.
- This represents a significant regulatory step to combat illicit use of cryptocurrencies by terrorists, money launderers and other criminals.
- The Treasury is specifically targeting Hamas, Palestinian Islamic Jihad and other terrorist groups aggressively using cryptocurrency to raise funds anonymously.
The Biden administration has taken action against international cryptocurrency mixers that enable anonymity and threaten national security.
Treasury Department Sanctions
The Treasury Department is designating international cryptocurrency mixers as money laundering hubs. This sanction will require special reporting for any financial transactions involving these entities.
Combating Illicit Use of Cryptocurrency
The action represents a significant regulatory step to shape the future of global finance. It underscores the Treasury’s commitment to combating exploitation of cryptocurrencies by illicit actors like terrorists.
Targeting Hamas and Islamic Jihad
More broadly, the Treasury is aggressively targeting illicit cryptocurrency use by terrorist groups including Hamas and Palestinian Islamic Jihad.
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