RATE Group | As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted
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As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted

27 Dec As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted

Posted at 18:41h in Cryptocurrency News by

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As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted

Since the inception of Bitcoin, governments have tried to keep track of all the transactions taking place on the public blockchain. As the years progressed, authorities have shown a distaste for cryptocurrency mixing applications like Coinjoin. On Dec. 19, a Binance customer couldn’t withdraw his bitcoin because the exchange told him he used the mixing wallet Wasabi. Eventually, the customer got his funds back, but only after promising not to deposit to a tumbling wallet again.

Also Read: European Crypto Exchange Bitbay Ends Monero Trading due to Anonymity Features

Coin Tumbling Users Beware

The battle for cryptocurrency anonymity is upon us and governments are invading the very decentralized frameworks designed to bypass their so-called authority. Last Thursday, a Binance customer explained on Twitter that his funds were frozen because he was withdrawing to a wallet that mixed his UTXOs. “Bitcoiners be warned: this is what happens if Binance finds…

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