Two of crypto’s most hated surveillance proposals are officially dead.
The Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, withdrew its long-pending “unhosted wallet” rule and a separate proposal targeting crypto mixers, according to notices filed Monday and set for publication in the Federal Register on Tuesday.
Unhosted wallets, also called self-custodial wallets, are controlled directly by users rather than by an exchange or bank. FinCEN’s December 2020 proposal, released in the final weeks of President Donald Trump’s first term, would have required banks and money services businesses to keep records on…
