the US just dropped a crypto rule that sat on the table for almost 6 years.
the 2020 plan: send more than $10,000 between a US exchange and your own wallet, and it gets reported to FinCEN. records kept from $3,000. smaller transfers counted too if they added up past $10k in 24 hours.
it never took effect. this week Treasury withdrew it, along with a 2023 proposal aimed at mixers.
honestly this matters more than most of today's headlines. moving $BTC to a wallet you control shouldn't come with paperwork.
the catch: nothing stops Treasury from proposing something similar later. Coin Center already pointed that out.
where do you keep most of your coins, on an exchange or in your own wallet?
$BTC
NFA. DYOR.
#FinCEN #SelfCustody #CryptoRegulation #CryptoNews
the 2020 plan: send more than $10,000 between a US exchange and your own wallet, and it gets reported to FinCEN. records kept from $3,000. smaller transfers counted too if they added up past $10k in 24 hours.
it never took effect. this week Treasury withdrew it, along with a 2023 proposal aimed at mixers.
honestly this matters more than most of today's headlines. moving $BTC to a wallet you control shouldn't come with paperwork.
the catch: nothing stops Treasury from proposing something similar later. Coin Center already pointed that out.
where do you keep most of your coins, on an exchange or in your own wallet?
$BTC
NFA. DYOR.
#FinCEN #SelfCustody #CryptoRegulation #CryptoNews
