🇺🇸 The United States has just abandoned two of the most controversial crypto surveillance proposals of recent years.
FinCEN, the U.S. Treasury agency responsible for combating financial crimes, has officially withdrawn its 2020 proposal on self-custody crypto wallets. Among other things, it would have required banks and financial services to keep records of certain transactions over $3,000 and report those exceeding $10,000.
The agency is also abandoning its 2023 proposal targeting crypto mixer services, which would have classified international “mixing” as a category of transactions posing a major money laundering risk.
$BTC
FinCEN, the U.S. Treasury agency responsible for combating financial crimes, has officially withdrawn its 2020 proposal on self-custody crypto wallets. Among other things, it would have required banks and financial services to keep records of certain transactions over $3,000 and report those exceeding $10,000.
The agency is also abandoning its 2023 proposal targeting crypto mixer services, which would have classified international “mixing” as a category of transactions posing a major money laundering risk.
$BTC
