FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule.
State of Crypto: Unpacking the Trump Presidency’s Crypto Legacy
Donald Trump may have been anti-crypto but his appointed regulators ushered in a largely industry-friendly regime.
FinCEN Further Extends Comment Period for Controversial Crypto Rules
The Financial Crimes Enforcement Network (FinCEN) is further extending a comment period for a controversial proposed rule that would require crypto exchanges to gather and store counterparty information for transactions to unhosted wallets. FinCEN announced the move Tuesday, saying all comments are due 60 days after the change is submitted to the Federal Register, the […]
State of Crypto: What the Crypto World Should Watch for in the Biden Era
The incoming president has already announced he would tap pro-crypto, pro-regulation Gary Gensler to lead the SEC, but a number of other names and issues remain outstanding.
DC Magistrate Judge Calls Unhosted Wallet ‘Horror Story’ a ‘Fiction’
“Indeed, cash poses a greater challenge to law enforcement than cryptocurrency in unhosted wallets,” wrote Magistrate Judge Zia Faruqui in an opinion on a forfeiture case.
FinCEN’s Crypto Surveillance Rule Violates the US Constitution
Proposals requiring crypto companies to report transactions amount to “mass surveillance” and flout the Fourth Amendment.
FinCEN’s Crypto Rules Aren’t as Unfair as Jack Dorsey Says
Crypto companies complain about FinCEN’s new “unhosted wallets” proposal. But the rules aren’t unreasonable, says our columnist.
65K Comments and Counting: Crypto Industry Fights ‘Arbitrary’ Treasury Rule
The crypto industry says a proposed rule to collect personal data from private wallet transactions is being rushed, might be challenged in court and could be difficult to implement.
Square’s Jack Dorsey Hits Out at FinCEN’s ‘Burdensome’ Proposed Crypto Wallet Rules
“The burdensome information collection and reporting requirements deprive U.S. companies like Square of the chance to compete on a level playing field,” Dorsey said.
FinCEN Wants US Citizens to Disclose Offshore Crypto Holdings of $10K+
The Financial Crimes Enforcement Network wants U.S. persons who hold crypto in offshore accounts to report holdings over $10,000.
Proposed FinCen Rule on Crypto Wallets Would Likely Be Ineffective, Elliptic Says
In its public response to the US Treasury Department’s proposed rule, the blockchain analytics firm has argued that they are likely to be ineffective and counterproductive.
Presidential Advisory Group Weighs In on Regulatory Approach to Stablecoins
Stablecoins should meet the same regulatory standards as other financial instruments, Trump’s Working Group on Financial Markets said.
FinCEN’s Proposed Crypto Wallet Rule Might Hit DeFi
FinCEN’s proposed rule regulating “unhosted” wallet transfers has a number of potential issues, including unintended consequences for decentralized finance.
Blockchain Bites: Google Goes Down, Nexus CEO and US Treasury Get Hacked
Yearn continues to rapidly expand through acquisitions, leading some to call it the Amazon of DeFi. While a U.S. Treasury hack serves as a reminder of the amount of financial data in circulation.
FinCEN Encourages Banks to Share Customer Information With Each Other
The guidance is apt to chafe privacy advocates, inside and outside the crypto space, who are already uneasy about the honeypot that FinCEN’s suspicious activity report database has become.
How FinCEN Became a Honeypot for Sensitive Personal Data
Financial data records collected by FinCEN are a valuable tool for law enforcement. They’re also a trove of personal data on people who have not committed a crime.
Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations
From shorter consultations to insider comments, recent rumors about U.S. regulation of private crypto wallets have some compelling context.
Why FinCEN Wants Details on All Cross-Border Transactions Over $250
At an event Monday, FinCEN staffers discussed the “why” of a new proposal that has crypto fans concerned.
ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns
XMR, DASH and ZEC “were delisted at the same time for the same reason – to further derisk the company from a regulatory standpoint.”
PayPal-Backed Blockchain Analytics Firm Hires Former US Treasury Adviser
TRM Labs, a blockchain analytics firm with backing from PayPal, is adding Ari Redbord as its head of legal and government affairs.