Good news: The US FinCEN has withdrawn its proposal to require reporting transfers of over $10,000 to private wallets!
This proposal had been hanging over us for years but never took effect. It’s now officially withdrawn, easing some of the regulatory pressure on self-custody (managing your own private keys).
Taken together with the recent hardware wallet supply chain attacks, it’s a reminder that wherever you keep your crypto, you have to look out for yourself—watch out for exchanges running off with your funds, and for counterfeit hardware wallets.
Do you keep your crypto on an exchange or in your own wallet?
This proposal had been hanging over us for years but never took effect. It’s now officially withdrawn, easing some of the regulatory pressure on self-custody (managing your own private keys).
Taken together with the recent hardware wallet supply chain attacks, it’s a reminder that wherever you keep your crypto, you have to look out for yourself—watch out for exchanges running off with your funds, and for counterfeit hardware wallets.
Do you keep your crypto on an exchange or in your own wallet?