US Lawmakers Tell Mnuchin to Back Off From Potential Crypto Wallet Regs

Four U.S. lawmakers have sent a letter to Treasury Secretary Steven Mnuchin, warning of the risks of restricting the use of self-hosted cryptocurrency wallets. Their concerns follow reports that the Treasury Department may be on the verge of imposing such strict cryptocurrency regulations aimed at self-hosted crypto wallets. Crypto Regulations That Could Make Existing Self-Hosted Wallet Users Criminals U.S. Congressmen Warren Davidson, Tom Emmer, Ted Budd, and Scott Perry sent a letter to Treasury Secretary Steven Mnuchin on Wednesday outlining their “concern regarding reports that....

Bitcoin rose on Friday as traders refused to bow down before Steven Mnuchin decided to end some of the Federal Reserve's crisis-fighting facilities.

The crypto space needs your help to impact the outcome of the United States’ Treasury’s crypto wallet proposal. With the two-week commentary period winding down, Jerry Brito, executive director of non-profit crypto policy advocate group Coin Center, says comments could make a difference in the ultimate outcome of the self-custodied wallet ruling recently proposed by the U.S. Treasury. “Coin Center is working with folks in Congress to get some letters sent to Secretary Mnuchin requesting an extension to the rushed comment period,” Brito said in a Dec. 28 tweet, adding:“Everyone in the....

If passed, the United States’ crypto wallet proposal would create significant hassles for digital asset exchanges. U.S. Treasury Secretary Steven Mnuchin recently dropped a proposal requiring exchanges and crypto platforms to verify the identity of customers exporting digital assets to self-hosted wallets. Crypto exchange OKCoin noted the proposal would create additional work for exchanges. “Upon preliminary review of the FinCen [Financial Crimes Enforcement Network] proposal as well as the wallet verification requirements, I think the proposal of extending the CTR requirement to crypto....

Americans are anxiously waiting to hear if they will receive a second round of stimulus checks as many are suffering due to the coronavirus-led economic crisis. Treasury Secretary Steven Mnuchin has a new proposal to immediately provide relief aid, while Nancy Pelosi has been discussing stimulus plans with Mitch McConnell, Joe Biden, Kamala Harris, and Chuck Schumer. New Stimulus Proposal and Status of Second Stimulus Checks U.S. lawmakers have been actively discussing stimulus packages this past week with the aim to help Americans cope with the coronavirus-led economic crisis. A number of....