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Home›Crypto›Regulation›FinCEN withdraws proposed $10,000 reporting rule for p…

FinCEN withdraws proposed $10,000 reporting rule for private wallets

The agency withdrew two long-stalled proposals tied to self-custody and crypto mixers before any of them took effect, according to CoinDesk.

Reported · Written up by our desk · Regulation

FinCEN has withdrawn a proposed $10,000 reporting rule that would have applied to crypto sent to private wallets, according to CoinDesk.

The outlet said the agency also pulled back two proposals that had been pending for years and had focused on self-custody and crypto mixers.

CoinDesk reported that none of the proposals were ever implemented, and the withdrawal means the reporting requirements will not move forward as proposed.

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Sources

CoinDeskU.S. scraps proposed $10,000 reporting rule for for crypto sent to private wallets

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