FinCEN Proposes New KYC Rules for Crypto Wallets

FinCEN proposes new KYC rules for crypto wallets What: Under the proposed rule, centralised exchange users who want to send ≥US$3,000 in cryptocurrency would need to share with the exchange operator personal information about the recipient wallet’s owner. Importance: The approval of such a rule would dramatically increase compliance costs for exchanges and harm user […]

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