The U.S. Treasury Department acknowledges that coin mixers have legitimate privacy uses and recommends establishing a safe harbor mechanism to temporarily freeze suspicious assets.

CoinFeed reported on March 9th that, according to The Block, the U.S. Treasury Department acknowledged in a report submitted to Congress that cryptocurrency mixers can be used for legitimate financial privacy purposes. Legitimate users can use mixers to protect sensitive information regarding personal wealth, business payments, or charitable donations in public blockchain transactions. This represents a shift in stance since the 2022 sanctions against Tornado Cash. The report distinguishes between custodial and non-custodial mixers. Custodial mixers are already required to register with FinCEN as money services businesses, but it did not recommend new restrictions on non-custodial mixers, nor did it finalize or support the record-keeping rules for mixers proposed by FinCEN in 2023. Instead, it cited a report from the Presidential Task Force recommending that the Treasury Department "consider next steps" while balancing illicit financial risks with privacy concerns.