US FinCEN withdraws two proposed digital asset related rules

By Reuters News

Oct 5 (Reuters) - The US Financial Crimes Enforcement Network said on Monday that it had withdrawn two proposed rules that would have imposed regulatory requirements on financial institutions related to certain digital assets.

  • One of the proposed rules that it withdrew would have imposed record keeping, verification, and reporting requirements on certain transactions involving convertible virtual currencies involving unhosted wallets, FinCEN said in a statement.

  • The other withdrawn rule was a proposal that would have imposed a special measure with regards to convertible virtual currency mixers, according to the statement.

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