Two rules officially withdrawn PANews + Treasury reg agenda update Oct 5:*$GTC $RLC $GTC
1. RIN 1506-AB47 "Unhosted wallet" rule — first proposed Dec 18 2020 under Mnuchin — would have required banks/MSBs to verify identity, keep name+address+type+amount+time+USD value+payment instructions, and report to FinCEN within 15 days for >$3k transactions to self-custody wallets and >$10k 24h aggregated — essentially extend CTR/Travel Rule to your own hardware wallet*
- *2. RIN 1506-AB52 CVC mixing as class — proposed Oct 19 2023 — would have labeled convertible virtual currency mixing as "primary money laundering concern" under Section 311 Patriot Act — requiring enhanced reporting/recordkeeping/monitoring for any transaction with mixer — target Tornado Cash style privacy tools*
*Why withdrawn:* Industry massive pushback (Coin Center, a16z etc) since 2020 — Trump admin dereg push — Treasury says focus on targeted enforcement not blanket surveillance — replaces with new Jan 2026 stablecoin/DeFi guidance + CLARITY Act framework moving through Senate
This is real win for self-custody — $3k KYC on your Ledger/Trezor and mandatory mixer flagging is gone.
*BREAKING 🚨 Treasury/FinCEN kills 2 legacy crypto surveillance rules 📉 Oct 5 withdraws 2020 unhosted wallet rule (> $3k ID verify + > $10k FinCEN report to self-custody) + 2023 CVC mixing 311 rule (mixer tx monitoring) — proposals since Mnuchin — 6yr fight ends — self-custody + privacy DeFi no longer face blanket BSA reporting — industry calls win for autonomy ⚡*
1. RIN 1506-AB47 "Unhosted wallet" rule — first proposed Dec 18 2020 under Mnuchin — would have required banks/MSBs to verify identity, keep name+address+type+amount+time+USD value+payment instructions, and report to FinCEN within 15 days for >$3k transactions to self-custody wallets and >$10k 24h aggregated — essentially extend CTR/Travel Rule to your own hardware wallet*
- *2. RIN 1506-AB52 CVC mixing as class — proposed Oct 19 2023 — would have labeled convertible virtual currency mixing as "primary money laundering concern" under Section 311 Patriot Act — requiring enhanced reporting/recordkeeping/monitoring for any transaction with mixer — target Tornado Cash style privacy tools*
*Why withdrawn:* Industry massive pushback (Coin Center, a16z etc) since 2020 — Trump admin dereg push — Treasury says focus on targeted enforcement not blanket surveillance — replaces with new Jan 2026 stablecoin/DeFi guidance + CLARITY Act framework moving through Senate
This is real win for self-custody — $3k KYC on your Ledger/Trezor and mandatory mixer flagging is gone.
*BREAKING 🚨 Treasury/FinCEN kills 2 legacy crypto surveillance rules 📉 Oct 5 withdraws 2020 unhosted wallet rule (> $3k ID verify + > $10k FinCEN report to self-custody) + 2023 CVC mixing 311 rule (mixer tx monitoring) — proposals since Mnuchin — 6yr fight ends — self-custody + privacy DeFi no longer face blanket BSA reporting — industry calls win for autonomy ⚡*
