FinCEN withdraws proposals for private-wallet reporting and crypto-mixing controls
FinCEN withdrew two proposed rules: a 2020 measure covering certain cryptocurrency transactions involving unhosted wallets, and a 2023 proposal targeting crypto mixing. Neither proposal took effect, and the agency said it would take no further action on the wallet rule, according to a Federal Register notice filed October 5 [1] [2] [3].
The wallet proposal would have required financial institutions to report certain crypto transfers to private wallets, including transactions above $10,000; reporting also describes proposed identity-verification and recordkeeping requirements [1] [2] [4].
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- 1U.S. scraps proposed $10,000 reporting rule for for crypto sent to private walletsCoinDesk• Oct 6, 2026
- 2FinCEN scraps proposed crypto mixer and wallet rulesCryptopolitan• Oct 6, 2026
- 3FinCEN Withdraws 2020 Unhosted Crypto Wallet RuleBTCUSA• Oct 6, 2026
- 4Crypto Wallet Reporting Rule from 2020 Officially Withdrawn by FinCENTheCoinrise.com• Oct 6, 2026
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