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FinCEN Extends Comment Period For Proposed Non-Custodial Crypto Wallet Rule

Mary Liu

Summary: The Financial Crimes Enforcement Network (FinCEN)  announced today it will extend the comment period for the proposed non-custodial crypto wallet rule. In response to the reporting requirements of crypto transaction information, FinCEN provides an additional 15 days of feedback time; for the requirements of banks and MSBs recordkeeping or reporting of customer transaction counterparties, an ...

The Financial Crimes Enforcement Network (FinCEN)  announced today it will extend the comment period for the proposed non-custodial crypto wallet rule.

In response to the reporting requirements of crypto transaction information, FinCEN provides an additional 15 days of feedback time; for the requirements of banks and MSBs recordkeeping or reporting of customer transaction counterparties, an additional 45 days of comment time is added.

The controversial proposal was first submitted on December 18 and has received more than 7,500 comments. 

By Mary Liu

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