The bill introduced in the House would impose a fine of up to $100,000 for handling funds from mixers, while the Treasury writes a report.
A bill has been introduced in the United States House of Representatives to ban cryptocurrency mixers for two years. Called the Blockchain Integrity Act, it is sponsored by five Democratic congresspeople led by Sean Casten.
Casten defined a crypto mixer in a statement as a pool that allows users to “generate a new address and withdraw their funds without revealing the link between the depositor and withdrawal addresses.”
The bill would temporarily prohibit financial institutions, including cryptocurrency exchanges, virtual asset service providers and any other registered money service businesses, from accepting funds that had gone through a mixer or to allow funds to be withdrawn directly to the address of a mixer. Every violation would be subject to a civil penalty of up to $100,000.