FinCEN Extends Comment Period For Crypto Wallet Rule

Plus a discovery of lost bitcoin rediscovered!

Happy Thursday, Blockfolians

The Lede

Last month, outgoing Treasury Secretary Steven Mnuchin dropped an unpleasant holiday gift in the crypto industry’s laps when his office announced a new rule that would “require exchanges to store name and address information for customers transferring over $3,000 in crypto per day to private crypto wallets, and file currency transaction reports (CTRs) for customers transacting in over $10,000 per day.”

Initially, the industry was given only 15 days - over the holiday no less - to comment. But comment we did.

Those hoping that this move is ultimately put into the dust heap are resting their hope on the fact that 1) it seems to have been driven largely by Mnuchin himself and 2) Mnuchin will be out of power by the time the new period is done.

Here’s hoping! And until then, keep fighting!

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Highly Relevant Reading


Community Commentary

Say WHAT?
It is and always has been about the macro context

A Really Big Number We Should Be Paying Attention To

$3.3B

That’s how much Grayscale’s crypto products raised last quarter. Wow.


Final Thought

What a story!