US Treasury Withdraws Regulatory Proposal Targeting Unhosted Wallets and Crypto Mixing Services

According to Odaily, market sources report that the U.S. Department of the Treasury has withdrawn its previous crypto regulatory proposal targeting unhosted wallets and convertible virtual currency (CVC) mixing services. It is understood that the proposal had aimed to expand the scope of monitoring crypto transaction activities, including requiring financial institutions to collect and report information related to unhosted wallets and crypto mixing services. This withdrawal means that the related monitoring rules will not proceed for the time being.