• FinCEN wallet rule
    Cryptocurrencies,  Politics,  Regulation

    FinCEN drops ‘midnight rule’ regulating private crypto wallets

    U.S. Treasury Department’s Financial Crimes Enforcement Network issued a proposal requiring exchanges to collect personal data from self-hosted wallets

    Essentially, what FinCEN wants is to require banks, cryptocurrency exchanges, and other money services businesses (MSB) to collect identifying data about anyone who wants to transfer $3,000 or more to or from an “unhosted” wallet.

  • Ari Paul crypto predictions
    Cryptocurrencies,  Regulation

    Regulation could reshape crypto exchanges within two years

    BlockTower Capital co-founder Ari Paul thinks a separate ecosystem for ‘clean’ coins will soon emerge, meaning exchanges will only allow withdrawals to whitelisted addresses

    In a Twitter thread, Ari Paul said he believes a separate ecosystem for “clean” coins will soon emerge where digital assets can be traced to a regulated institution. This could pave the way for a murky underworld where laundering ill-gotten crypto becomes big business.