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R.I.P. Unhosted Wallet Rule
23.8.2024
In 2020, the Financial Crimes Enforcement Network proposed imposing know-your-customer requirements on unhosted wallets, drawing immense backlash from the crypto industry. This week, the Treasury Department formally withdrew the proposal
As Wasabi Wallet and Phoenix Leave the U.S., What’s Next for Non-Custodial Crypto?
29.4.2024
Following DOJ action against Samourai Wallet and a possible Metamask investigation, Wasabi Wallet and Phoenix are closing their U.S. offerings. Is non-custodial crypto under threat?
Warren’s Crypto Bill Is Likely Unconstitutional. It’s Also Unlikely to Pass
12.12.2023
Democratic lawmakers signed on to sponsor the Digital Asset Anti-Money Laundering Act. The bill is bad for crypto in the U.S., even if it never gets through Congress
EU Lawmakers Vote to Impose €1,000 Limit on Unidentified Crypto Transactions
30.3.2023
EU lawmakers have voted in favor of imposing a €1,000 limit on crypto transactions where the customer cannot be identified. “Entities, such as banks, assets and crypto assets managers, real and virtual estate agents, and high-level professional football clubs, will be required to verify their...
EU Institutions Reach Provision Agreement On Controversial 'Unhosted Wallets' Regulation
30.6.2022
The European Parliament and the Council of the European Union have reached a provisional agreement on the Transfer of Funds Regulation (TFR) that is to ensure crypto transfers can be traced and that transactions considered suspicious are blocked, potentially paving the way for tougher enforcement...
EU Decision-Makers Kick Off Negotiations On Controversial 'Unhosted Wallets' Regulation
28.4.2022
As the members of the European Parliament have launched the final round of negotiations on the controversial Transfer of Funds Regulation (TFR) today, the crypto industry hopes to impact the legislative proposal’s wording through a lobbying campaign aimed at the European Union’s...
'Let’s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulators
20.4.2022
Industry representatives call the authorities not to go beyond the scope of the FATF Travel Rule recommendation
Law Decoded: ‘Unhosted’ wallets are just ‘wallets,’ March 28–April 4
4.4.2022
Yet another regulatory attack on self-hosted wallets, a digital dollar with privacy protections, and more of the same for spot BTC ETFs
EU Lawmakers Back Regulation Threatening Unhosted Crypto Wallets, Defi Space
1.4.2022
Members of the European Parliament have approved a controversial regulation that could undermine the decentralized finance (defi) sector in the EU. Some of its provisions, which are yet to be coordinated with other European institutions, aim to introduce restrictive measures for transactions...
Crypto industry fires back after EU vote to block ‘unhosted’ wallets
1.4.2022
"Imagine if the EU required your bank to report you to the authorities every time you paid your rent merely because the transaction was over 1,000 euros,” said Coinbase CEO Brian Armstrong
European Parliament Committee Passes Controversial Crypto Regulation of 'Unhosted Wallets'
31.3.2022
In another installment of the European Union’s discussions on the controversial Transfer of Funds Regulation (TFR), the European Parliament’s Committee for Economic and Monetary Affairs (ECON) has passed a controversial draft that could exert a negative impact on the industry.
The provisions...
EU Parliament can outlaw transacting with 'unhosted' wallets, crypto advocate warns
28.3.2022
The proposed legislation would require exchanges to verify personal data behind any transaction
FinCEN’s Wallet Rule Aims to Close Crypto-Cash Reporting Gap, Official Says
1.2.2021
FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule
Joe Biden Freezes FinCEN’s Crypto Wallet Rulemaking — US Crypto Regulations Under Review
22.1.2021
New U.S. President Joe Biden has frozen all agency rulemaking, including the proposal by the Financial Crimes Enforcement Network (FinCEN) relating to cryptocurrency wallets. Biden will appoint someone to “review any new or pending rules,” the White House has announced. FinCEN’s...
DC Magistrate Judge Calls Unhosted Wallet ‘Horror Story’ a ‘Fiction’
14.1.2021
“Indeed, cash poses a greater challenge to law enforcement than cryptocurrency in unhosted wallets," wrote Judge Zia Faruqui in an opinion on a forfeiture case
Electronic Frontier Foundation: US Government Will Expand Financial Surveillance Through FinCEN’s Proposed Crypto Wallet Rules
24.12.2020
The Electronic Frontier Foundation (EFF) raised concerns about the strengthening financial surveillance through the proposed crypto regulations announced by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). The Nonprofit Organization Is Concerned About New Rules...
US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules
19.12.2020
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, has unveiled its proposed rules on transactions involving cryptocurrency wallets. Experts in the crypto community have weighed in on what the new proposed regulation means, what crypto owners should do,...