In the cryptosphere there’s a lot of talk about Treasury Mnuchin regulating non-custodian wallets. Brian Armstrong mentioned rumors that the Treasury is going to regulate un-hosted wallets. I’m not sure where this rumor came from but there was a rule proposed by the Fed Board and FinCEN 10-23-2020. “Threshold for the Requirement to Collect, Retain, and Transmit Information on Funds Transfers and Transmittals of Funds That Begin or End Outside the US”. HERE
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Maybe the comments requested to be more regulated with “Non-hosted wallets“, who knows. But overall, I don’t see anything to do with unhosted or non custodian wallet regulation…… View all comments HERE
Full PDF proposal HERE.
Let me know your thoughts. Maybe I’m crazy….