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U.S. Attorney Thinks FinCEN's Proposed New Regulation Violate US Civil Liberties
Summary: The U.S. Treasury yesterday proposed a regulation that would require banks and crypto exchanges to confirm the identity of the owners of non-custodial cryptocurrency wallets to whom its customers send crypto. FinCEN is asking for written comments on the proposal until January 4. Marta Belcher, an attorney at Ropes & Gray, said that this is ...
The U.S. Treasury yesterday proposed a regulation that would require banks and crypto exchanges to confirm the identity of the owners of non-custodial cryptocurrency wallets to whom its customers send crypto. FinCEN is asking for written comments on the proposal until January 4. Marta Belcher, an attorney at Ropes & Gray, said that this is an “extremely abbreviated timeline.”She said, “This is part of a disturbing trend of the U.S. government increasingly turning to financial intermediaries to collect sensitive user data of cryptocurrency users and applying the financial surveillance of the traditional banking system to crypto.”
By Amy Liu
Tags: Attorney,Crypto,FinCEN,Regulation
Link: U.S. Attorney Thinks FinCEN's Proposed New Regulation Violate US Civil Liberties [Copy]
