Law & Policy

PSA issued by the FBI today is...eerie.

Don't use unregistered cryptocurrency money transmitting services btw if it's not in this database it's a no no...

oh and is your code or wallet a msb? maybe maybe not but we're arresting privacy devs right now & calling them msbs so u tell me...

This might be a dumb question, but if self custody wallets are being targeted(?), could the gov ask CoinBase and others to report users that transfer funds to a self custody wallet?

Ecosystem at Consensys | prev: 
Art Blocks

This was the point of the "midnight rulemaking" that Treasury Secretary Mnuchin proposed at the very end of the Trump administration -- CEXes would have to KYC any address to which a customer wanted to send funds. Wasn't finalized. (Yet.)

I believe they’re already asking for exchanges to report users who interact with mixers and have any nexus to a foreign jurisdiction

The gov can (and will) ask, but CEXs wouldn't provide that info voluntarily. I expect it'll end up in court and judgment will depend on the gov's basis for requesting the wallet info. 

imho, SEC's BS about custodial wallets being brokers won't be sufficient. The IRS asking for active wallets for tax purposes, will be