**Coin Center Criticizes FinCEN's Rule on CVC Mixing**
Coin Center argues that FinCEN's proposal to classify convertible virtual currency (CVC) mixing as a primary money laundering concern (PMLC) is overly broad and unprecedented. They assert it could wrongly affect many legitimate transactions, infringing on individuals' constitutional rights without due process.
- Coin Center highlights the lack of clear guidelines, which could lead to erroneous reporting of lawful domestic transactions.
- They urge FinCEN to refine the rule, incorporating clearer definitions and procedural fairness to prevent undue economic and reputational harm to innocent parties.
https://www.coincenter.org/comments-to-the-financial-crimes-enforcement-network-on-proposal-of-special-measure-regarding-convertible-virtual-currency-mixing-as-a-class-of-transactions-of-primary-money-laundering-conce/
Bitcoin /
npub1dw…ds9g9
2024-05-30 07:10:07
Author Public Key
npub1dwegu7taqadap2pzw6dszulc6r7gwmldawjpdrersuykxxlyzfeskds9g9Published at
2024-05-30 07:10:07Event JSON
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"content": "**Coin Center Criticizes FinCEN's Rule on CVC Mixing**\n\nCoin Center argues that FinCEN's proposal to classify convertible virtual currency (CVC) mixing as a primary money laundering concern (PMLC) is overly broad and unprecedented. They assert it could wrongly affect many legitimate transactions, infringing on individuals' constitutional rights without due process.\n\n- Coin Center highlights the lack of clear guidelines, which could lead to erroneous reporting of lawful domestic transactions.\n \n- They urge FinCEN to refine the rule, incorporating clearer definitions and procedural fairness to prevent undue economic and reputational harm to innocent parties.\n\nhttps://www.coincenter.org/comments-to-the-financial-crimes-enforcement-network-on-proposal-of-special-measure-regarding-convertible-virtual-currency-mixing-as-a-class-of-transactions-of-primary-money-laundering-conce/",
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