The crypto privacy rule Trump’s Treasury proposed, and Trump’s Treasury buried
On Dec. 18, 2020, with Christmas a week away and Donald Trump preparing to leave the White House, Steven Mnuchin's Treasury Department announced a plan that would require crypto exchanges and other financial institutions to collect more information about transactions involving wallets people controlled themselves. The public was given just 15 days to comment, with… Read the full story on…
This article recounts a December 2020 Treasury proposal under Steven Mnuchin that would have required crypto exchanges to collect more information on transactions involving self-custodied wallets, with only a 15-day public comment period. It is a retrospective explainer on a rule that was later shelved, not a report of new regulatory action. Traders would care only if such self-hosted wallet reporting requirements were revived, since they could raise compliance costs and friction for exchanges and users.
