FinCEN Withdraws Proposed Self-Hosted Wallet and Crypto-Mixing Rules

FinCEN has formally withdrawn two proposed digital-asset rules, ending an unresolved 2020 effort aimed at certain transactions involving unhosted wallets and a 2023 proposal targeting international crypto mixing. The withdrawals were published in the Federal Register on October 6, after the agency announced them on October 5 as part of the Trump administration’s deregulatory agenda and an effort to make digital-asset rules “fit for purpose.” The immediate consequence is that FinCEN will not proceed with either proposal in its existing form.

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