FinCEN withdrew its 2020 rule on non-custodial wallets. It never took effect anyway)
On October 5, two proposed rules were withdrawn:
- non-custodial wallets: records for transactions over $3,000, reports to FinCEN for transactions over $10,000
- 2023 rule on international crypto mixers
Coin Center, which fought both, is happy
but in Decrypt, that same Coin Center says the law these rules are based on is still in place
On mixers, FinCEN explicitly says it will keep monitoring and may revisit this
In short, a paper victory. The 2020 rule was proposed by the first Trump administration and withdrawn by the second. The next one could change its mind
KYC on exchanges hasn't been canceled. My BNB and stablecoins in Flexible on Binance couldn't care less
$BTC
down 0.5% in 24 hours, the market shrugged
#FinCEN #гаманці #Регулювання
On October 5, two proposed rules were withdrawn:
- non-custodial wallets: records for transactions over $3,000, reports to FinCEN for transactions over $10,000
- 2023 rule on international crypto mixers
Coin Center, which fought both, is happy
but in Decrypt, that same Coin Center says the law these rules are based on is still in place
On mixers, FinCEN explicitly says it will keep monitoring and may revisit this
In short, a paper victory. The 2020 rule was proposed by the first Trump administration and withdrawn by the second. The next one could change its mind
KYC on exchanges hasn't been canceled. My BNB and stablecoins in Flexible on Binance couldn't care less
$BTC
down 0.5% in 24 hours, the market shrugged
#FinCEN #гаманці #Регулювання
