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FinCEN’s Proposed Crypto Wallet Rule Might Hit DeFi

FinCEN’s proposed rule regulating “unhosted” wallet transfers has a number of potential issues, including unintended consequences for decentralized finance.

U.S. Treasury Secretary Steven Mnuchin is said to be spearheading a controversial FinCEN rule that would require exchanges to collect and report names and addresses for customers transferring funds to "unhosted" wallets.
U.S. Treasury Secretary Steven Mnuchin is said to be spearheading a controversial FinCEN rule that would require exchanges to collect and report names and addresses for customers transferring funds to "unhosted" wallets.