U.S. scraps proposed $10,000 reporting rule for for crypto sent to private wallets
FinCEN withdrew two proposals that had hung over self-custody and crypto mixers for years without ever taking effect.
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Summary
- FinCEN withdrew a 2020 proposal that would have required banks and crypto businesses to report transfers of more than $10,000 involving customers’ self-controlled wallets.
- The agency also scrapped a 2023 proposal that would have subjected transactions involving crypto mixers to additional reporting requirements.
- FinCEN said the withdrawals, neither of which had taken effect, advanced the Trump administration’s deregulatory agenda and effort to create “fit-for-purpose” digital-asset rules.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
