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Virtus 3 months ago
@L0la L33tz am I understanding this right that the FinCen rules wouldn't render mixers or other transactional obfuscation illegal, per say, but establish a regulatory burden on centralized agencies to block transactions of coins that cannot be adequately traced? And also to flag people using privacy software as engaging in auspicious activity? In other words, it isn't a blanket ban but a way of disincentivizing people to run/maintain/develop/use privacy tools? Or am I wrong and this would be a blanket ban?

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That is correct, though it would result in a defacto ban, as 1) no exchanges will accept tx that are a ML concern and 2) no devs will build tools officially understood to be a ML concern - see for example the transactional delays, this is effectively a description of Samourai‘s Ricochet