Better think twice, US regulator withdraws digital asset rules for banks

Landon Capital News

The US Financial Crimes Enforcement Network withdrew two proposed rules on Monday that would have placed regulatory requirements on financial institutions regarding certain digital assets.

One withdrawn proposal would have required financial institutions to keep records, verify information, and report certain transactions involving convertible virtual currencies and unhosted wallets, FinCEN said in a statement.

The second withdrawn rule was a proposal that would have imposed a special measure on convertible virtual currency mixers, according to the statement.

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