Swan Bitcoin explained that this measure of influence on users is not welcomed by the platform administration and is of a forced nature. Swan Bitcoin co-founder Ian Pritzker said the US Financial Crimes Enforcement Agency (FinCEN) is putting pressure on the platform to freeze the accounts of customers who use cryptomixers.
“We believe that mixers are okay, privacy is not a crime, and using unmixed crypto assets is like bringing your entire salary to the grocery store to pay for just one apple. People should have the right to exchange these wages for individual bills before spending them, so as not to disclose the amount of income to the clerk,” Pritzker explained.
The company reported that in compliance with FinCEN requirements, Swan Bitcoin’s banking and custodial partners refused to serve clients who directly interact with crypto-asset mixing services, and are also required to freeze suspicious accounts due to the threat of license revocation.
Pritzker believes the political climate and U.S. regulatory crackdown on crypto industry participants has created a lot of fear in the banking sector, which is reluctant to do business with anything related to cryptocurrency. Swan Bitcoin CEO Cory Klippensten advised clients who use the services of the mixer not to withdraw funds from the platform directly to the mixer, otherwise there is a risk that the company’s banking partners will block them.
Earlier, Eugene Volokh, a professor at the Gary T. Schwartz University of Law in Los Angeles, shared his opinion that blocking the cryptocurrency mixer Tornado Cash, which allows anonymizing transactions, in the United States does not violate the laws of the country and the rights of citizens.
Source: Bits
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