FinCEN Proposes Rule Change for Unhosted Convertible Virtual Currency Wallets

On December 18, 2020, the Financial Crimes Enforcement Network (FinCEN) published a proposed rule change for digital currency transactions with “unhosted” wallets. Under the newly proposed change, banking institutions, and money services businesses (MSBs) may be required to verify customers’ identities and turn in reports… Read More
Read more in: Blockchain & Digital Assets, Politics, Legal & Regulation | Tagged blockchain security, crypto-assets, digital assets, digital currencies, distributed ledger technology, dlt, financial crimes enforcement network, fincen, money services businesses, msbs, vasps, virtual asset service providers, virtual currencies