NCA wants regulation for coin mixers, but the crypto industry is already one ...
The chief of NCA claimed that coin mixing services offer a layer of anonymity and protection to criminals looking to launder and wash their “dirty” funds. The United Kingdom's National Crime Agency (NCA) seeks to regulate the crypto coin mixers under the country's laws against money laundering.Coin mixing tools are popular in the decentralized world as they maintain the privacy of transactions. These tools often mix several transactions to obscure the origin of a particular transaction. Then the recipient receives the transactions from a mixing "black box" comprised of hundreds of....
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Blockchain analytics firm Chainalysis highlighted that 10% of all funds coming from illicit addresses are sent to crypto mixers. As on-chain activities slow down during the crypto winter, usage of cryptocurrency mixers has doubled in 2022, with addresses classified as “illicit” being the top contributor. Cryptocurrency mixers, also called “tumblers,” provide anonymity to transactions, making the sender or receiver of the transaction completely unidentified. While this has a valid use case for everyday users, hackers have used it to hide from authorities. In a report by analytics firm....
Cryptocurrency mixers offer users a higher level of privacy and anonymity for their transactions, but often run into trouble with regulators. Cryptocurrency mixers have been an interesting topic of discussion ever since the advent of cryptocurrencies and their adoption by retail investors around the world. Cryptocurrency mixers are services that essentially focus on one feature of a blockchain network: privacy. Cryptocurrency mixers, also known as tumblers, provide anonymity so no one can trace the sender or receiver of a transaction. This can help protect the identity of individuals who....
Promoted: Bitcoin mixers help users obscure their transaction histories and protect their identities. The post How Bitcoin Mixers Help Protect Privacy appeared first on Bitcoin Magazine.
In another twist to the Mirror Trading International (MTI) bitcoin Ponzi scam, the blockchain intelligence firm Whitestream says bitcoins from wallets associated with the company are being sent to Wasabi privacy mixers. According to Whitestream’s update, this pivot to mixers suggests that operators of the Ponzi are trying to obfuscate the movement of the bitcoins. Conspiracy to Hide Funds The reports of MTI bitcoins going to mixers follow the recent disappearance of the company’s CEO, Johann Steynberg late last year. This also comes after a South African court granted a....
Many blockchain companies now believe that regulation is inevitable, but theres a growing debate over where to draw the line between protecting users and strangling the lifeblood out of the industry or forcing it outside the United States.Whether we like it or not, regulation is coming, Sheila Warren of the Crypto Council for Innovation tells me during an interview in the lead up to the recent Collision conference in Toronto, Canada.The CEO of the industry lobby group for blockchain technology explains that rather than trying to stop the inevitable, many companies are now focused on....