๐จ Self-custody just got a big win.
FinCEN has withdrawn its 2020 proposal that would have forced banks and crypto businesses to report transfers over $10,000 involving self-hosted wallets. It also scrapped the 2023 proposal targeting crypto mixer transactions. Neither rule ever took effect.
Fewer reporting hoops for moving coins to your own wallet could be a quiet tailwind for $BTC, $ETH and the whole self-custody crowd. ๐
Do you keep your crypto on an exchange or in your own wallet? ๐
#Crypto #Bitcoin #SelfCustody #Regulation
FinCEN has withdrawn its 2020 proposal that would have forced banks and crypto businesses to report transfers over $10,000 involving self-hosted wallets. It also scrapped the 2023 proposal targeting crypto mixer transactions. Neither rule ever took effect.
Fewer reporting hoops for moving coins to your own wallet could be a quiet tailwind for $BTC, $ETH and the whole self-custody crowd. ๐
Do you keep your crypto on an exchange or in your own wallet? ๐
#Crypto #Bitcoin #SelfCustody #Regulation