So mixers are getting a lot of
government attention right now because
they can be used. Mixers are a totally
legitimate service. Really a lot of the
most common platforms, exchanges that
are Kraken, other kinds of
cryptocurrency exchanges can be used as
mixers. We call those centralized
mixers. Now, those are legitimate, but
the ability to use those centralized
mixers, those centralized platforms in
order to disguise or mix the source of
the funds has become a very common
trend. the Department of Justice um and
through their various agencies have
essentially put quite a cap on and have
really locked down on the illegitimate
uh mixers, the illegal mixers. They have
a lot of sources on those. They’ve
brought a lot of prosecutions on those.
But now we’re talking about legitimate
uh mixers, legitimate centralized
mixers, which can be any kind of
exchange platform where allegedly
individuals involved in illicit conduct
are using these to disguise the money.
So, it’s really a new form of money
laundering in the cryptocurrency space.
It’s not so much just you send me
cryptocurrency here in the United States
and I’ll turn it into United States
dollars or fiat uh one for one
transactions. Now we’re talking about a
whole new way to co-mingle various
sources of funds, sometimes illegal
funds, and sometimes clean funds and
then disperse it. So, it’s a way to
co-mingle funds and it’s an extra layer
that the government is dealing with in
order to be able to trace cryptocurrency
to various sources.