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President Biden Freezes Former Secretary Mnuchin's Proposal on "Unhosted Wallets" , Crypto Market May Usher in a Turnaround

Amy Liu

Summary: Jake Chervinsky, Compound General Counsel, just tweeted that President Biden has frozen all agency rulemaking pending further review. This includes former Secretary Mnuchin's proposal on "unhosted wallets."   Jake Chervinsky is optimistic about this. He said that we fought hard and earned the right to take a breath and reset. Janet Yellen isn't Steve Mnuchin. FinCEN's ...

Jake Chervinsky, Compound General Counsel, just tweeted that President Biden has frozen all agency rulemaking pending further review. This includes former Secretary Mnuchin's proposal on "unhosted wallets."  

Jake Chervinsky is optimistic about this. He said that we fought hard and earned the right to take a breath and reset. Janet Yellen isn't Steve Mnuchin.

FinCEN's proposed crypto wallet rules require banks and cryptocurrency exchanges to keep the names and addresses of customers whose cryptocurrency transaction amount exceeds US$3,000. These companies must also report all customers involved in self-hosted wallets of more than US$10,000. transaction.

By Amy Liu

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Link: President Biden Freezes Former Secretary Mnuchin's Proposal on "Unhosted Wallets" , Crypto Market May Usher in a Turnaround   [Copy]
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