The practice of combining digital currencies from multiple sources into a single pool to obscure the origin and destination of individual transactions. This process aims to enhance user privacy by making it difficult to trace specific coin movements. It is often employed to anonymize cryptocurrency activity.
Context
Virtual currency mixing services are frequently discussed in relation to privacy-enhancing technologies and regulatory scrutiny. News reports often cover the legal implications of using mixers, their role in facilitating illicit activities, and the ongoing efforts by regulators to track and control their usage. This practice sits at the intersection of privacy and compliance concerns.
FinCEN's proposed "mixer rule" escalates AML compliance for digital assets, mandating stringent reporting and redefining transactional privacy for regulated entities.
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