Quote from: Baofeng on September 12, 2019, 01:09:02 PM

@figmentofmyass - I think FATF just made a recommendation about sharing informations across all exchanges. FINCEN is in charge of "enforcing" Travel Rule.

the travel rule is not part of american law, so FinCEN does not enforce it.

Quote from: Baofeng on September 12, 2019, 01:09:02 PM

BSA (Bank Secrecy Act) of 1996 was amended in 2012 to include all electronic funds transfer. I'm assuming it includes crypto and the threshold is $$3k or more.

the $3k threshold is only for "cash purchases of monetary instruments such as money orders, cashier's checks, and traveler's checks". it doesn't apply to cryptocurrency. FinCEN asserting that virtual currency falls under the BSA means that CTR and SAR do apply though. https://en.wikipedia.org/wiki/Bank_Secrecy_Act#Reports

Quote from: Baofeng on September 12, 2019, 01:09:02 PM

I think crypto mixers falls under the definition of VASP (Virtual Asset Service Provider) and also includes exchanges. So I don't know if they are going to comply with this new rules or take the risk of being shutdown.

as the DOJ and FinCEN discovered in 2017 when they came after BTC-E, they can't seize cryptocurrency. fiat exchanges are exposed to banking risks, but if the american government targets crypto-only businesses, they can remain as hidden services and/or spin up new clearnet domains, wallets fully intact. coming after mixers this way could be a game of cat and mouse they know they can't win. and three letter agencies hate looking powerless.

i think the american government is more likely to indirectly target mixers by implementing "know your customer's customer" standards like those seen in the FATF travel rule. basically, they'll pressure services to blacklist non-complying services like mixers. anyone who doesn't fall in line is at risk of adverse government action. the exchanges police themselves.