FinCEN asserts that Harmon deliberately flaunted the Conditions of the Bank Secrecy Act, the cornerstone of U.S. Anti-Money Laundering legislation. It was offenses of the BSA which led to criminal charges from the executive team of crypto trade BitMEX earlier this month.
Smartmixer has this unique idea of using not only one, but three separate coin-pools. Coin-pools are essentially the coin-reserves that a mixer utilizes to send coins that are clean to users.
So every time a user sends his unclean coins to Smartmixer, these coins are stored in an appropriate coin-pool, and the user is routed different coins from one of the pools. These new coins are certainly not linked to the old coins delivered by the user.
Users get to pick the specific coin-pool they’d love to obtain the coins from, it depends on the service fee that a user chooses to cover.
The 3 pools offered by Smartmixer are: Comprises of coins from different users. Is the least expensive pool.
Smart Pool: Is the maximum volume-rich pool, since it comprises of coins from other customers (standard Pool) + Smartmixer’s reserves + Investor’s money. Only retains coins out of the company reservations and investor’s cash. No real money from other users gets sent . Also costs the highest service fee.
All these pools are what impressed me most about Smartmixer (along with a couple more attributes ). This establishes is that the brand new coins will be anonymous and clean, period.
However, what about the different features that a mixer should provide? Let’s take a look at them.
You might have noticed rather than calling it a”Bitcoin mixer”, I have been speaking about it as the”Cryptocurrency” mixer.
That is because it supports the mixing of a number of coins in addition to Bitcoin. Infact, it probably is the only mixer in the industry with such a diverse mixing-portfolio.
Smartmixer.io lets users mix:
Harmon was arrested in February for operating a stable of tumblers, or mixers, that Washington, D.C. prosecutors allege constitute unregistered money services businesses. Those charges against him say he laundered around $300 million in Bitcoin. In accordance with today’s announcement,”FinCEN’s investigation has identified at least 356,000 bitcoin trades through Helix.”
Mixing services attempt to privatize cryptocurrencies by sending them through a massive chain of transactions involving various wallets. The procedure aims to obscure the roots of coins in addition to the entity in control of them when they come from mixing. Harmon’s mixers were only accessible via the dark net.
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