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Coinbase Requests Rulemaking Pause from FinCEN following Biden White House Guidance to Agencies

Amy Liu

Summary: According to a official blog post, Coinbase sent a letter to FinCEN requesting to officially close the consultation on the proposed crypto wallet rules and withdraw the notice of the proposed rule-making according to the instructions of the new government.  The Biden administration has frozen the rulemaking of all existing institutions pending further review, including ...

According to a official blog post, Coinbase sent a letter to FinCEN requesting to officially close the consultation on the proposed crypto wallet rules and withdraw the notice of the proposed rule-making according to the instructions of the new government. 

The Biden administration has frozen the rulemaking of all existing institutions pending further review, including the FinCEN proposed crypto wallet rules led by former Treasury Secretary Steven Mnuchin. FinCEN's proposed crypto wallet rules require banks and cryptocurrency exchanges to store the names and addresses of customers whose cryptocurrency transaction amount exceeds US$3,000.

By Amy Liu

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Link: Coinbase Requests Rulemaking Pause from FinCEN following Biden White House Guidance to Agencies   [Copy]
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