U.S. Senators Question Justice Department's Pursuit of Crypto Mixers
Summary
Senators Wyden and Lummis question DOJ's pursuit of cryptocurrency software services as unlicensed money transmitters. They argue that FinCEN's guidance doesn't support this approach and that it contradicts settled law, raising First Amendment concerns. The DOJ's interpretation of "control" in defining money transmitters is also challenged. Congress is working on digital assets legislation, but the likelihood of comprehensive rules becoming law this year is low.
