I only had time to read it once but here are some interesting points:
- This would put a 2-year moratorium on mixers.
- It interestingly classifies ‘Privacy Coins’ in a different category than mixers.
- States there are ‘legitimate uses’ for mixers
- Would have the Secretary of the Treasury prepare a report that includes information on “The capacity of the Financial Crimes Enforcement Network, the Office of Foreign Assets Control, and Federal and State law enforcement agencies to track, prevent the transfer of, freeze, and confiscate funds that have been processed through digital asset mixers, privacy coins, and other anonymity-enhancing technologies”
Full proposal available here: https://casten.house.gov/imo/media/doc/blockchain_integrity_act.pdf
Isn’t the jurisdiction of the ban is only in the US?
When you have a large and violent mafia that controls the world’s main currency the dictates they set will affect most of the world.