Treasury tells Congress mixers have valid privacy uses, recommends ‘hold law’ for suspicious crypto

The U.S. Treasury told Congress that cryptocurrency mixers have legitimate privacy uses while recommending a 'hold law' for suspicious crypto transactions. Treasury data reveals that over $1.6 billion from mixing services has flowed into crypto bridges since May 2020, highlighting the scale of mixer usage in DeFi.

• →Treasury acknowledges that crypto mixers have valid privacy use cases beyond illicit activities
• →More than $1.6 billion from mixing services has moved into crypto bridges since May 2020
• →Treasury recommends implementing a 'hold law' for suspicious cryptocurrency transactions
• →The data highlights significant mixer usage in cross-chain DeFi activities
• →Treasury's balanced stance suggests potential regulatory framework rather than outright bans