Treasury withdraws crypto surveillance rule proposals long opposed by Coin Center

• —The unhosted-wallet rule would have required collecting counterparty data on transfers above $3,000 and reporting those over $10,000
• —The mixing rule would have imposed a "special measure" requiring reporting on transactions tied to mixing outside the U.S.
• —Coin Center argued the definition of mixing was overly broad and swept in ordinary privacy-preserving techniques
• —The group also said the approach exceeded FinCEN's Section 311 authority under the PATRIOT Act