US Treasury withdraws proposed crypto wallet and mixer reporting rules
Image: Crypto.newsThe US Treasury, via FinCEN, has withdrawn two proposed crypto surveillance rules. One 2020 proposal would have expanded Bank Secrecy Act reporting and identity verification duties for transactions involving self-custodied unhosted wallets and high-risk foreign wallets. A separate 2023 proposal targeted crypto mixing services as a primary money laundering concern. Both rules are no longer under active consideration.
Key points
- FinCEN withdrew two proposed crypto surveillance rules first published in 2020 and 2023.
- The 2023 mixer proposal targeted crypto mixing as a primary foreign money laundering concern.
- The withdrawals eliminate proposed expanded reporting duties for banks and money services businesses.
Why it matters
The withdrawals remove proposed expanded compliance burdens for crypto users and financial institutions interacting with self-custodied wallets and mixing services. No new reporting requirements apply to these activities under the withdrawn rules.
Sources · 7 publishers
Crypto Briefing
Tier 2
US Treasury withdraws proposed crypto rules on unhosted wallets, mixers
CoinGape
Tier 2
U.S. Treasury Withdraws Proposed Surveillance Rules Targeting Crypto Wallets and Mixers
Unchained
Tier 1
FinCEN Withdraws Proposed Crypto Mixer and Unhosted Wallet Reporting Rules
The Defiant
Tier 1
Treasury Drops Crypto Wallet Surveillance Rules
Coinpedia
Tier 3
U.S. Treasury Withdraws Crypto Wallet Rules in Major Self-Custody Shift
Bitcoin.com News
Tier 2
US Treasury Moves to Scrap Proposed Crypto Wallet, Mixer Surveillance Rules
Crypto.news
Tier 2
US Treasury drops proposed reporting rules for wallets and crypto mixers
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by CoinGape
- CryptoVideos brief published
How this brief was made. Our system found this event in 7 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
