🧾 5. FinCEN backs away from rules that would have affected unhosted wallets
Today, FinCEN withdrew two earlier proposals.
One would have required financial institutions to keep records, verify identities, and report certain cryptocurrency transactions, including transactions involving unhosted wallets.
The other concerned a special measure targeting Crypto Mixers. �
This does not mean the United States has stopped fighting money laundering in crypto; it means only that these two specific proposals have been withdrawn.
Today, FinCEN withdrew two earlier proposals.
One would have required financial institutions to keep records, verify identities, and report certain cryptocurrency transactions, including transactions involving unhosted wallets.
The other concerned a special measure targeting Crypto Mixers. �
This does not mean the United States has stopped fighting money laundering in crypto; it means only that these two specific proposals have been withdrawn.