Express

Circle CEO: New Proposed FinCEN Rule Breaks DeFi

Amy Liu

Summary: Jeremy Allaire, co-founder and CEO of Circle, tweeted that new proposed FinCEN rule breaks DeFi -- how can a person provide the name and address of a counterparty when the counterparty is a DeFi protocol? This rule is broken. According to previous news, FinCEN proposes new KYC rules for crypto wallets. U.S. crypto users hoping to ...

Jeremy Allaire, co-founder and CEO of Circle, tweeted that new proposed FinCEN rule breaks DeFi -- how can a person provide the name and address of a counterparty when the counterparty is a DeFi protocol? This rule is broken. According to previous news, FinCEN proposes new KYC rules for crypto wallets. U.S. crypto users hoping to transfer their holdings from an exchange to their own self-hosted wallets may need to comply with new know-your-customer requirements.

By Amy Liu

Last Update:

Tags: ,,
Link: Circle CEO: New Proposed FinCEN Rule Breaks DeFi   [Copy]
Next:

Related Articles

  • Trump's "Big and Beautiful" Bill Passes: Biden and Harris Criticize, Financial Expert O... 2 days ago
  • Silicon Valley Giants, Trump Ally Launch 'Crypto Bank' Erebor, Aiming to Fill SVB Void 3 days ago
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 9 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 15 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 18 days ago

    • You need to login to comment.