FinCEN withdraws proposed crypto mixing rule over ‘legitimate activity’ concerns
Cointelegraph 2026-10-05 20:46:53
Context: The US Treasury's Financial Crimes Enforcement Network (FinCEN) has withdrawn two proposed rules regarding unhosted wallets and cryptocurrency mixers, citing concerns that the regulations could impede legitimate activity. This move is part of the Trump Administration's broader deregulatory efforts. The decision comes after intense scrutiny of the proposed rules, which aimed to increase oversight of certain cryptocurrency transactions.
Key Facts
- FinCEN, a bureau under the US Treasury, withdrew two proposed rules on unhosted wallets and crypto mixers.
- The withdrawn rules were part of the Trump Administration's deregulatory agenda.
- The decision to withdraw the rules was motivated by concerns that they could hinder legitimate activity.