Update
FinCEN Withdraws Crypto Wallet Proposals
FinCEN, the Treasury bureau responsible for enforcing financial-crime reporting requirements, withdrew its proposals for requiring crypto exchanges and financial institutions to collect more information about transactions involving unhosted wallets. The proposals were announced by Steven Mnuchin's Treasury Department in 2020 and were formally withdrawn by the current administration on December 18, 2026, after generating thousands of objections and surviving the transition to the Biden presidency.