US FinCEN Withdraws Two Proposals to Tighten Reporting on Self-Custody Wallet, Mixer Crypto Transactions
JH Kim
Summary
- The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) has withdrawn two proposed rules that would have strengthened reporting requirements for cryptocurrency transactions involving self-custody wallets and mixers.
- FinCEN withdrew a proposal that would have imposed stricter reporting obligations on cryptocurrency transactions involving self-custody wallets.
- It also withdrew a plan to apply tougher reporting requirements to transactions using cryptocurrency mixers.
Forecast Trend Report by Period
The Financial Crimes Enforcement Network, a bureau of the US Treasury Department, has withdrawn two proposed rules that would have tightened reporting requirements for cryptocurrency transactions involving self-custody wallets and mixers.
Cointelegraph reported on October 5 that FinCEN withdrew the two proposals. The measures would have imposed stricter reporting obligations on cryptocurrency transactions tied to self-custody wallets and mixers.
One proposal would have strengthened reporting requirements for cryptocurrency transactions involving self-custody wallets.
The other would have applied stricter reporting requirements to transactions conducted through cryptocurrency mixers.
JH Kim
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