Californian Bitcoin platform Swan Bitcoin has warned users via email about indefinite blocking for direct use of cryptocurrency mixers. The company blamed US regulatory authorities for this. Swan referred to the fact that its banking and custodial partners «will no longer serve customers who directly interact with bitcoin mixing services like Wasabi, Samourai, and other similar platforms.» Depositing or withdrawing funds from such platforms may lead to the complete closure of a Swan account by financial managers. According to representatives of the platform, banks and depositories have changed their policies based on new rules from the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury. In October, the agency proposed to equate cryptocurrency mixers to «money laundering centers» that threaten national security. After the warning about the blocking, the cryptocurrency community spoke out against strict regulation and compliance with authorities. The SamuraiWallet account in X pointed out that the FinCEN initiative is still a proposal and criticized Swan for their «preemptive obedience». According to the majority, the new policy directly contradicts the spirit of the trading platform and the concept of Bitcoin itself. Despite the widespread criticism, Swan’s co-founder and CTO, Yan Pritzker, explained the steps the company is taking to protect user privacy. The top manager added that such behavior by banks is «expected and obvious», as institutions do not want to do additional work to prove their innocence in the event of real money laundering incidents. According to Pritzker, over the past two years, Swan has focused on building its own independent financial infrastructure. However, in order to accept payment in US dollars, the company must have an MSB license. At the same time, all such institutions must comply with the rules of FinCEN, FATF, and other unelected authorities. Even individuals who engage in currency exchange through P2P services fall into this category, emphasized the CTO. Licensed financial institutions are required to file suspicious activity reports, which the 1970s Bank Secrecy Act requires. Since Bitcoin is still poorly understood in Washington and the media, it easily becomes a «scapegoat for the shortcomings of a system that allows most real financial crimes to be stopped,» explained Pritzker. Using this situation, US officials have pushed through a bill that restricts the use of digital assets and allows the government to monitor most transactions. The representative of the trading platform clarified that the new FinCEN rule does not qualify cryptocurrency mixing as a crime but requires much more reporting. To combat such laws, Pritzker proposed educating the community about «self-defense and privacy principles.» He promised to «continue to pressure the industry» to reduce the amount of KYC data required to open accounts at Swan. The co-founder of the platform also advised recognizing the dependence of the industry on the banking sector. Additionally, Pritzker stated the need to establish specialized government institutions and promote cryptocurrency advocates in the government. Recall that in May 2022, the US Treasury included the Blender.io mixer and related Bitcoin and Ethereum addresses on the sanctions list. The agency claims that the service helped launder funds stolen by North Korean hackers and was allegedly involved in ransomware attacks. On August 8 of the same year, the Tornado Cash mixer was also sanctioned by the US for suspected money laundering of over $7 billion in cryptocurrencies. The service was used by the North Korean hacking group Lazarus Group, among others.