Coinbase seeks extended feedback deadline to FinCEN’s new crypto rules
Coinbase says that a 15-day notice-and-comment period for FinCEN’s new crypto rules is not enough. Coinbase, one of the largest cryptocurrency exchanges in the United States, is advocating extension for the industry’s feedback deadline to newly proposed crypto rules by the Treasury’s Financial Crimes Enforcement Network, or FinCEN.In a Dec. 21 blog post, Coinbase’s chief legal officer Paul Grewal addressed FinCEN’s newly released rulemaking regarding self-hosted crypto wallets. The blog post represents an open letter to Kenneth Blanco, the director of FinCEN.In the letter, Grewal....
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Crypto companies complain about FinCEN's new "unhosted wallets" proposal. But the rules aren't unreasonable, says our columnist.
FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule.
FinCEN’s proposed rule regulating “unhosted” wallet transfers has a number of potential issues, including unintended consequences for decentralized finance.
Up to this point, the main way to judge support for a change to Bitcoin’s consensus rules has been miner voting. Miners are able to broadcast support for changes to the Bitcoin protocol via coinbase transactions, and these messages of support are tabulated in an effort to judge the level of support among those who are theoretically incentivized to support the network. On a recent episode of The Crypto Show, Bitcoin Core contributor Peter Todd discussed the idea of allowing users to vote (or signal support) for hard forks, which is a concept that was heavily discussed at the Satoshi....
The Bitcoin Foundation has extended the deadline for voting in its ongoing special election to fill the two industry seats left vacant by Mt. Gox CEO Mark Karpeles and former BitInstant CEO Charlie Shrem. Though voting was originally slated to end at midnight EST on 28th April, the deadline has been extended to Wednesday, 30th April. Brian Goss, chairman of the Bitcoin Foundation's election committee, sent the message via email to eligible voters, notifying them of the change. Wrote Goss: "On account [of] the hiccups we had getting the vote launched as well as the numerous reports of....