Overview
(January 11, 2024, Washington, DC) – Associate Evan Abrams appeared on the “RiskWatch” podcast hosted by Vcheck Global to discuss FinCEN’s recent proposed rule targeting digital asset mixers. The proposed rule is part of an effort by the Department of Treasury to crackdown on cryptocurrency anonymity services such as digital asset mixers also known as convertible virtual currency (CVC) mixers, which can be used as a money laundering tool by rogue states, terrorist organizations, and criminals although there are legitimate uses of CVC mixers. The issuance of the proposed rule comes on the heels of the October 7 Hamas attack as the group has been accused of using digital asset mixers.