FinCEN Withdraws Crypto Rules Targeting Mixers And Unhosted Wallets
Summary
FinCEN withdrew two proposed U.S. rules covering recordkeeping and reporting for some cryptocurrency transactions involving unhosted wallets, and a special measure targeting crypto mixing. The proposals never became final, but their withdrawal means they are no longer pending and companies need not plan around those specific frameworks. Existing anti-money-laundering, sanctions and customer-identification requirements remain in force. FinCEN or Congress could revisit similar issues through new proposals.
