Bitcoin service platform Swan Bitcoin will ban accounts that directly interact with currency mixing services
Bitcoin service platform Swan Bitcoin will ban user accounts that directly interact with mixing services. Swan Bitcoin explains that this change is due to pressure from its banking partners, who are subject to proposed rules by the Financial Crimes Enforcement Network (FinCEN) aimed at requiring institutions that facilitate transactions such as mixing services to declare relevant information.
Swan Bitcoin co-founder and CTO Yan Pritzker said that while the company has an open policy allowing mixing as a privacy service, it cannot provide fiat deposit services to customers if it cannot work with regulated custodians and banks. Swan Bitcoin would rather completely avoid the risk than conduct investigations. (Bitcoin.com)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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