US congressman proposes Blockchain Integrity Act to temporarily ban cryptocurrency mixers

Odaily News U.S. Congressman Sean Casten (from Illinois' 6th District) has introduced the Blockchain Integrity Act, which seeks to prohibit financial institutions, including cryptocurrency exchanges, virtual asset service providers (VASPs), and other registered money service businesses (MSBs), from accepting incoming funds transmitted through mixers and preventing outgoing funds from being directly withdrawn to known mixer addresses within two years. The move is intended to allow the Treasury Department, the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) to study the illegal uses of these mixers. The bill was co-sponsored by Bill Foster of Illinois' 11th District, Brad Sherman of California's 32nd District, and Emanuel Cleaver of Missouri's 5th District.