Regulation· ★★★★· bullish·

FinCEN Withdraws Proposed Crypto Mixer and Unhosted Wallet Reporting Rules

  • —2023 mixer rule under Section 311 of the USA PATRIOT Act withdrawn
  • —2020 unhosted wallet proposal pulled: $10,000 reporting, $3,000 recordkeeping thresholds
  • —Notices signed by FinCEN Deputy Director Jimmy L. Kirby, publication set for Oct. 6
  • —Coin Center called the move 'a significant victory for financial privacy'
Why it matters: The withdrawal eases compliance burdens on exchanges and boosts user privacy, though FinCEN says it may still act on mixer-related illicit finance in the future.
Source: Unchained
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