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Crypto

FinCEN Drops Proposed Rules on Crypto Wallets and Mixers

Guavy AI Editorial Team
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The Financial Crimes Enforcement Network (FinCEN) has withdrawn two proposed rules that aimed to regulate self-custody wallets and crypto mixers. The decision, made on Monday, marks the end of a wallet proposal that had been pending since December 2020. FinCEN cited the Trump administration’s deregulatory agenda as the reason for rescinding these rules.

The move reduces regulatory pressure on self-custody, decentralized finance (DeFi), and crypto services. This could potentially support wider adoption of these technologies and lower compliance costs for businesses operating in the crypto space.

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