Treasury Backs Down on Biden-Era Cryptocurrency Surveillance Proposal
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The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has withdrawn its proposal for a rule that would require financial institutions to report on cryptocurrency transactions that they "know, suspect, or have reason to suspect" involve mixing in a foreign jurisdiction. The proposal was first made in October 2023, and the government withdrew it this week, citing complaints from the crypto industry and privacy concerns.
"While FinCEN maintains that illicit actors continue to use mixers
"While FinCEN maintains that illicit actors continue to use mixers
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