{"id":35386,"date":"2021-01-26T19:08:34","date_gmt":"2021-01-26T17:08:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35386"},"modified":"2025-08-29T01:05:03","modified_gmt":"2025-08-28T22:05:03","slug":"fincen-extends-comment-period-for-proposed-cryptocurrency-transaction-regulations","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fincen-extends-comment-period-for-proposed-cryptocurrency-transaction-regulations\/","title":{"rendered":"FinCEN extends comment period for proposed cryptocurrency-transaction regulations"},"content":{"rendered":"<p>The Financial Crimes Enforcement Network (FinCEN) within the U.S. Treasury extended the comment period for proposed cryptocurrency-transaction regulations by 60 days. This was announced on the <a href=\"https:\/\/www.fincen.gov\/news\/news-releases\/fincen-extends-reopened-comment-period-proposed-rulemaking-certain-convertible\" target=\"_blank\" rel=\"noopener noreferrer\">\u043d\u0430 \u0441\u0430\u0439\u0442\u0435 \u0432\u0435\u0434\u043e\u043c\u0441\u0442\u0432\u0430<\/a>.<!--more--><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/us-treasury-proposes-verifying-users-of-bitcoin-wallets\">Proposed rules issued in late 2020<\/a> tighten identification requirements and require exchanges to retain information about customers transferring digital assets valued at over $3,000. The agency has also requested reports on transactions by users who conduct deals in digital assets valued at more than $10 000 in a single day.<\/p>\n<p>Earlier FinCEN <a href=\"https:\/\/www.fincen.gov\/news\/news-releases\/fincen-extends-comment-period-rule-aimed-closing-anti-money-laundering\" target=\"_blank\" rel=\"noopener noreferrer\">extended<\/a> the comment period by 15 days for the reporting requirements and by 45 days for the rules on counterparty documentation.<\/p>\n<p>Representatives of a16z, Coinbase, and Square CEO Jack Dorsey <a href=\"https:\/\/u1f987.com\/en\/news\/privacy-advocates-urge-to-derail-the-trump-administrations-farewell-gift-to-the-crypto-industry\">called these rules ruinous<\/a> for the cryptocurrency industry.<\/p>\n<p>In January, new U.S. President Joe Biden <a href=\"https:\/\/u1f987.com\/en\/news\/biden-freezes-proposed-fincen-rules-regulating-the-cryptocurrency-industry\">paused<\/a> the implementation of some of his predecessor Donald Trump&#8217;s executive orders. This included the proposal to verify users of non-custodial wallets from FinCEN.<\/p>\n<p>Subscribe to ForkLog on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full feed of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Crimes Enforcement Network (FinCEN) within the U.S. Treasury extended the comment period for proposed cryptocurrency-transaction regulations by 60 days. This was announced on the agency&#8217;s site.<\/p>\n","protected":false},"author":1,"featured_media":35387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1292,269,36,1490],"class_list":["post-35386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aml-kyc","tag-fincen","tag-regulation","tag-us-treasury"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35386"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35386\/revisions"}],"predecessor-version":[{"id":35388,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35386\/revisions\/35388"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35387"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}