The incoming president has already announced he would tap pro-crypto, pro-regulation Gary Gensler to lead the SEC, but a number of other names and issues remain outstanding.
“Indeed, cash poses a greater challenge to law enforcement than cryptocurrency in unhosted wallets," wrote Magistrate Judge Zia Faruqui in an opinion on a forfeiture case.
Proposals requiring crypto companies to report transactions amount to "mass surveillance" and flout the Fourth Amendment.
Crypto companies complain about FinCEN's new "unhosted wallets" proposal. But the rules aren't unreasonable, says our columnist.
The crypto industry says a proposed rule to collect personal data from private wallet transactions is being rushed, might be challenged in court and could be difficult to implement.
The Twitter and Square chief executive has given his views on the proposed FinCEN…
The post Twitter chief Jack Dorsey weighs in on FinCEN regulations appeared first on Coin Journal.
"The burdensome information collection and reporting requirements deprive U.S. companies like Square of the chance to compete on a level playing field," Dorsey said.
The Financial Crimes Enforcement Network wants U.S. persons who hold crypto in offshore accounts to report holdings over $10,000.
In its public response to the US Treasury Department’s proposed rule, the blockchain analytics firm has argued that they are likely to be ineffective and counterproductive.
Stablecoins should meet the same regulatory standards as other financial instruments, Trump’s Working Group on Financial Markets said.