When it comes to privacy and cryptocurrencies, there are still plenty of users who rely on mixing services. Exchanges and blockchain analysis firms do not take kindly to this activity, for obvious reasons.
Paxos is one of the many exchanges actively monitoring transactions related to mixing services.
More Mixing Services Scrutiny
While not disallowed by the company, they will ask where the money is coming from.
This creates some bad blood among crypto enthusiasts, as they are not always intent on sharing that information.
It is a well-known fact that Bitcoin, Ethereum, and most other assets lack all privacy features.
As such, it is not hard to understand why some people prefer taking extra steps before moving money to an exchange or trading platform.
For the company in question, that poses a problem.
Centralized exchanges need to comply with strict regulation.
That means they need to be able to track the origin of funds at all times.
It is logical to assume that a further crackdown on mixing services is very likely.
For the end user, this means it is time to move away from centralized platforms altogether.
Now is the time to roll out the decentralized and trustless ecosystem people have been waiting for.