TechFlow reports that Bitcoin service platform Swan Bitcoin has announced it will ban user accounts that directly interact with mixing services.
Swan Bitcoin explained the decision stems from pressure on its banking partners due to a proposed rule by the Financial Crimes Enforcement Network (FinCEN), which aims to require institutions handling transactions involving mixing services to report related information.
Although Swan Bitcoin itself allows mixing as a privacy service, due to compliance requirements, the company has decided to partner only with compliant custodians and banks to provide fiat on-ramp services. The company stated it prefers to completely avoid potential risks rather than conduct investigations.
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