Bitcoin disappointed bulls on February 2 as a fresh attempt at flipping higher levels to support gained little momentum.
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U.S. Treasury Secretary Steven Mnuchin wants to regulate wallets on his way out the door (Photo: Wikipedia).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.
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BlockTower Capital's Ari Paul believes an even murkier underworld may soon exist for 'dirty' coins (Photo: Everipedia)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.