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Two-Year Ban on Financial Institutions Handling Crypto Mixer Funds.

This Act imposes a two-year moratorium preventing banks and other financial institutions from handling funds that have been routed through digital asset mixers (tools designed to enhance transaction anonymity). The goal is to curb money laundering and illicit financing. Citizens using these tools for privacy may face difficulties transferring such funds into the traditional financial system during this period.
Key points
Financial institutions are prohibited from handling funds routed through digital asset mixers for a 2-year period, starting 6 months after enactment, facing potential civil penalties up to $100,000 per violation.
The Treasury Department must conduct a comprehensive study on digital asset mixers, privacy coins, and other anonymity-enhancing technologies, focusing on their use in illicit finance.
The study will also analyze legitimate uses of these technologies, such as payments to journalists in authoritarian regimes, and recommend future regulatory actions.
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Expired
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Additional Information
Print number: 118_HR_8266
Sponsor: Rep. Casten, Sean [D-IL-6]
Process start date: 2024-05-07
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Blockchain Integrity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8266.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-07.

What are the main provisions?

Key points include:

  • Financial institutions are prohibited from handling funds routed through digital asset mixers for a 2-year period, starting 6 months after enactment, facing potential civil penalties up to $100,000 per violation.
  • The Treasury Department must conduct a comprehensive study on digital asset mixers, privacy coins, and other anonymity-enhancing technologies, focusing on their use in illicit finance.
  • The study will also analyze legitimate uses of these technologies, such as payments to journalists in authoritarian regimes, and recommend future regulatory actions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Casten, Sean [D-IL-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Security Courts and Law