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BREAKING - Confirming my report from last night: Treasury has put forth a notice of proposed rule making that would require crypto MSBs to submit reports on certain transactions involving crypto wallets. Public comments from the industry are due Jan 4.

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Frank Chaparro

@fintechfrank

Dec 18, 2020

SCOOP: US Treasury said to weigh new crypto transaction reporting rule aimed at self-hosted wallets theblockcrypto.com/post/88347/tre

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thoughts ?

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depends on the *exact* form of it -- still digging through it. One question -- how will exchanges know what wallets are self-custodial?

Adam Cochran (adamscochran.eth)

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and

We used to do this temporarily in Canada in 2013 due to unclear rules on payments facilitation. We asked users to simply check a box saying they owned the wallet being sent to, and asked that if they wanted to send to a non-owned wallet that it went through an owned one first.