Treasury Drops Crypto Surveillance Proposals
Bitcoin Magazine Treasury Drops Crypto Surveillance Proposals In a major win for the industry, the Financial Crimes Enforcement Network has said it will scrap proposed rules targeting “unhosted wallets” and cryptocurrency mixing. This post Treasury Drops Crypto Surveillance Proposals first appea
Source: Bitcoin Magazine
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DW NOTE
FinCEN withdrew its unhosted wallet rule after six years because it never had a coherent theory of enforcement — only a desire to see every transaction. The mixing proposal died for the same reason: it defined mixing so broadly that ordinary privacy-preserving techniques became reportable events, turning every exchange into an involuntary surveillance contractor with no meaningful way to comply.