DECRYPT · 2026-10-05 20:19 UTC

Treasury Kills Crypto 'Unhosted Wallet' and Mixer Surveillance Rules

FinCEN withdrew its 2020 proposal requiring banks to track and report self-custody wallet transactions over $3,000 and $10,000 respectively. Treasury also dropped its 2023 proposal to designate international crypto mixing as a 'primary money laundering concern' under the USA PATRIOT Act. Both withdrawals cited concerns about chilling legitimate activity and referenced the White House's July 2025 digital asset report supporting lawful private transactions.

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