FinCEN Withdraws Proposals on Crypto Recordkeeping
ABA Banking Journal
"The Financial Crimes Enforcement Network is withdrawing two proposed rules that would have created new recordkeeping requirements for financial institutions for certain transactions involving convertible virtual currencies. The first rule was proposed in 2020 and would have created recordkeeping, verification, and reporting requirements for certain transactions involving CVCs and unhosted wallets. The second rule was proposed in 2023 and would have established enhanced recordkeeping and reporting requirements for CVC mixing."
