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      U.S. Treasury Withdraws Proposals on Crypto Surveillance

      The U.S. Treasury has officially withdrawn two controversial proposals aimed at enhancing surveillance of cryptocurrency transactions. These proposals, which were under the jurisdiction of the Financial Crimes Enforcement Network (FinCEN), focused on unhosted crypto wallets and cryptocurrency mixing services.

      The first proposal would have required reporting and recordkeeping for transactions exceeding $3,000 and $10,000 involving unhosted wallets. The second aimed to expand reporting requirements for transactions that could involve foreign cryptocurrency mixers. With the withdrawal of these proposals, the rulemaking process for both initiatives has been formally concluded.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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