FinCEN withdrew two proposals that had hung over self-custody and crypto mixers for years without ever taking effect. FinCEN withdrew a 2020 proposal that would have required banks and crypto businesses to report transfers of more than $10,000 involving customers’ self-controlled wallets. The agency also scrapped a 2023 proposal that would have subjected transactions involving crypto mixers to additional reporting requirements. FinCEN said the withdrawals, neither of which had taken effect, adv…
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