Regulation· ★★★★· bullish·

FinCEN Withdraws $10,000 Private-Wallet Crypto Reporting Rule After Six Years

  • —The 2020 rule would have required reports on transfers over $10,000 involving private wallets
  • —The threshold also applied to combined transfers within 24 hours
  • —A separate 2023 proposal on crypto mixers as a money-laundering concern was also withdrawn
  • —Bank Secrecy Act obligations remain; only these two proposals were dropped
Why it matters: It reduces regulatory uncertainty for exchanges and banks serving self-custody customers.
Source: Inside Bitcoins
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