FinCEN Withdraws Proposed Crypto Mixer and Unhosted Wallet Reporting Rules
9 Articles
9 Articles
U.S. Treasury Withdraws Reporting Rules for Unhosted Crypto
The U.S. Treasury has withdrawn proposed rules for unhosted wallets, easing regulatory pressure. Here's why it matters.
The U.S. Treasury Department withdrew a FinCEN proposal that sought to raise reports and records of certain transactions linked to unhosted wallets and crypto mixers. The bill changes the immediate picture, but leaves unresolved the country’s broader regulatory direction.
The US Treasury Department has withdrawn two controversial regulatory proposals that closely concern cryptocurrency users. The department announced that the oversight rules previously proposed by the Financial Crimes Enforcement Network (FinCEN) for personal cryptocurrency wallets, known as "unhosted wallets," and cryptocurrency mixing services will no longer be implemented. According to information reported by Coin Center, these regulations hav…
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