U.S. Treasury Deputy Secretary: It is not necessary to ban cryptocurrency mixer transactions, but improving transparency is the focus of work

According to Foresight News , CoinDesk reported that Brian Nelson, deputy secretary of the U.S. Treasury Department, said at the Consensus conference that the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) 2023 proposal aims to increase transparency rather than ban mixer transactions. The proposal lists mixers as a "major money laundering problem" and requires virtual asset service providers (VASPs) to report any cryptocurrency transactions involving mixers to the agency. Brian Nelson said he sympathized with cryptocurrency users' desire for financial privacy, but suggested that the industry and the Treasury Department should work together to find ways to improve privacy protection without facilitating terrorist financing.