FinCENs New Crypto Monitoring Rule: One Rule for All or Stifling Adoption and Innovation? #131

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The US Treasury's Financial Crimes Enforcement Network, FinCEN, announced that they were extending the window for responses, or comments, to a new rule which was deemed as rushed and anti-crypto. This rule proposes new ways to monitor cryptocurrency transactions, with proposed reporting requirements regarding transactions greater than $10,000, or aggregating to greater than $10,000, that involve unhosted wallets - or wallets hosted in jurisdictions identified by FinCEN. Furthermore, another new proposal from FinCEN would also require disclosure of offshore crypto accounts holding more than $10,000.

One company, Paxos, responded with their comments, as seen here https://www.paxos.com/paxos-comment-letter-to-the-financial-crimes-enforcement-network-of-the-us-treasury/.

Join Aviva Ounap, host of Crypto and Blockchain Talk, and Jonathan Dunsmoor, Founder, and Principal of Dunsmoor Law, as we dissect Paxos’ response and uncover what FinCEN is trying to achieve with their new rule.

Tune in to CryptoAndBlockchainTalk.com, the podcast that makes you smarter about the worlds of blockchain and cryptocurrency, and everything in between. It is our mission to interview the brightest stars in this space, bringing them straight to your ears for your listening pleasure, and best of all, for free!

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159 episodes