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Regulation

U.S. Treasury Department on Track to Regulate Unhosted Wallets

“Following two rules proposed by the Financial Crimes Enforcement Network (FinCEN) in 2020 that enforce transaction reporting on unhosted wallet transactions exceeding $10,000, while also compelling banks to collect information on a customer and their counterparty for any transaction exceeding $3,000 involving an unhosted wallet, U.S. Deputy Treasury Secretary Wally Adeyemo affirmed that the government agency has made […]
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Regulation

Key US Senators Introduce Crypto Bill Outlining Sweeping Plan for Future Rules

“A wide-reaching, bipartisan crypto bill finally emerged Tuesday from U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), who are seeking to extend a comprehensive set of regulations across digital assets in the U.S. and have given industry lobbyists something meaty to debate…Their so-called Responsible Financial Innovation Act “creates regulatory clarity for agencies charged with […]