The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed new regulations that could restrict crypto mixers, citing them as a “class of transactions of primary money laundering concern.” The agency believes that actors such as Hamas, ISIS, and the DPRK frequently abuse coin mixers for illicit activities. The lack of transparency in crypto mixing is seen as a national security risk, and the proposed policy marks FinCEN’s first use of Section 311 of the USA PATRIOT Act to target such transactions. The Treasury has previously sanctioned individual coin mixers, including Tornado Cash and Blender.io. In addition to targeting crypto mixers, the Treasury is aggressively fighting illegal transactions and transfers within the convertible virtual currency (CVC) ecosystem, specifically targeting cryptocurrency use by terrorist groups like Hamas and the Palestinian Islamic Jihad. The recent Israel-Hamas war has led to increased enforcement in this area, with the Treasury’s Office of Foreign Asset Control (OFAC) imposing sanctions on Hamas-linked entities and blocking crypto addresses associated with Hamas and other terrorist groups.

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Information	Details
Geography	Middle East
Countries	🇮🇱
Sentiment	negative
Relevance Score	1
People	Andrea Gacki, Wally Adeyemo, Ahmed M. M. Alaqad
Companies	FinCEN, Office of Foreign Asset Control (OFAC), Buy Cash, Tornado Cash, Hamas, DPRK, ISIS, Treasury, Blender.io
Currencies	Bitcoin
Securities	None