Analysts say Mnuchin’s proposed self-custody rule won’t impact Bitcoin price
Analysts debate whether the U.S. Treasury Secretary’s new rule about self-custodied wallets could place the current bull run in peril. This week various media reported that U.S. Treasury Secretary Steven Mnuchin was considering whether or not legislation governing self-custodied wallets should be implemented. This led some analysts and crypto pundits to speculate whether or not this would impact Bitcoin, and the current bullish momentum that has been driving crypto prices higher. The threat of new crypto sector-focused regulations is a credible event which has negatively impacted crypto....
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In its public response to the US Treasury Department’s proposed rule, the blockchain analytics firm has argued that they are likely to be ineffective and counterproductive.
The U.S. Securities and Exchange Commission (SEC) today issued an order disapproving the proposed rule change to list and trade Coin ETF on the Bats BZX Exchange. This is the first Bitcoin ETF which the SEC has ruled on. Two other Bitcoin ETFs are also being considered by the Commission. The Decision. The SEC has just published an “Order Disapproving a....
FinCEN’s proposed rule regulating “unhosted” wallet transfers has a number of potential issues, including unintended consequences for decentralized finance.
The Treasury will consider imposing KYC regulations on transactions involving self-custodied wallets. As the Department of the Treasury has announced its regulatory agenda for the fiscal year earlier today, many in the web3 space have likely experienced flashbacks to December 2020, when the agency had first proposed to impose know your customer, or KYC, rules on transactions that involve self-custodied crypto wallets.The Treasury’s semiannual agenda and regulatory plan, a document that is meant to inform the public of the department’s ongoing rulemaking activities includes and encourage....
While many people expected the US Congress to look at this change and oppose it, that will not be the case anytime soon. It is not in their best interest to respect user privacy. Most people are well aware of how Rule 41 will be a major problem for anyone looking to obtain privacy on the Internet. The US government has proposed several changes, although there is lots of opposition as well. While Congress has no plans to intervene, the Tor project is taking a clear stance against what this change may bring to the table. Time To Oppose Rule 41 Before It Is Too Late. The proposed changes to....