FinCEN’s Crypto Surveillance Rule Violates the US Constitution
Proposals requiring crypto companies to report transactions amount to "mass surveillance" and flout the Fourth Amendment.
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FinCEN’s proposed rule regulating “unhosted” wallet transfers has a number of potential issues, including unintended consequences for decentralized finance.
FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule.
The venture capital firm has taken issue with U.S. regulators latest move against crypto. Major venture capital firm Andreessen Horowitz, also known as a16z, is the latest crypto-related form to oppose a recently proposed regulation in the United States.According to a blog post by a16z general partner Kathryn Haun, the Financial Crimes Enforcement Network has issued "a rushed, non-vetted rule under the cloak of the holidays that violates the government’s own established rulemaking procedures." FinCEN, which operates under the purview of Steven Mnuchin's Department of the Treasury,....
The Financial Crimes Enforcement Network is extending its comment period for a controversial surveillance rule that had the crypto industry up in arms.
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