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Petition To Extend Comment Period On Proposed FinCEN Self-Custody Regulation Gains Signaturess
Summary: A petition has been launched to extend the comment period on cryptocurrency self-custody regulations. FinCEN (Financial Crimes Enforcement Network) is looking to impose regulations that force regulated entities to keep records on identity when they’re looking to transact in cryptocurrencies over $3,000 from an unhosted wallet. The regulation is thought by crypto supporters as an ...
A petition has been launched to extend the comment period on cryptocurrency self-custody regulations.
FinCEN (Financial Crimes Enforcement Network) is looking to impose regulations that force regulated entities to keep records on identity when they’re looking to transact in cryptocurrencies over $3,000 from an unhosted wallet. The regulation is thought by crypto supporters as an attack on the key tenant of cryptocurrencies which is complete control over your information and money, if self-custodying.
The petition to extend the comment period on the proposed rule was introduced by the Chamber of Digital Commerce. It originally had a goal of 2,500 signatures, but it has since met that goal and moved it to 5,000. At the time of writing, the petition has 2,726 signatures.
By Emily Mason
Tags: Bitcoin,Chamber of Digital Commerce,Cryptocurrency,FinCEN,Self-Custody
Link: Petition To Extend Comment Period On Proposed FinCEN Self-Custody Regulation Gains Signaturess [Copy]
