The US Treasury Department is withdrawing two long-pending cryptocurrency surveillance proposals. The Financial Crimes Enforcement Network filed notices on Monday withdrawing its 2020 unhosted wallet rule and its 2023 plan to designate international crypto mixing as a class of transactions of primary money laundering concern. The wallet rule would have required banks to report cryptocurrency transactions exceeding 3,000 and 10,000 dollars when customers held assets in unhosted wallets. The advocacy group Coin Center called the decision a significant victory for financial privacy. This move aligns with the Trump administration’s July 2025 policy supporting lawful users’ ability to privately transact on public blockchains, though FinCEN said it will continue monitoring for money laundering and terrorist financing risks.
Source: Read the original article
