FinCEN withdraws two proposed digital asset rules

• FinCEN withdrew two proposed rules covering digital asset transactions and cryptocurrency mixing.
• One proposal targeted recordkeeping, verification and reporting for certain transactions involving unhosted wallets.
• The withdrawals form part of the Trump administration’s broader deregulatory agenda for digital assets.

FinCEN has withdrawn two proposed rules covering digital asset transactions and cryptocurrency mixing.

The withdrawals remove proposed requirements for certain transactions involving convertible virtual currencies and unhosted wallets.

FinCEN also withdrew a proposed special measure targeting convertible virtual currency mixing.

The agency considered public comments before withdrawing both proposals.

The moves form part of the Trump administration’s broader deregulatory agenda for digital assets.

FinCEN said the changes aim to keep digital asset regulations fit for purpose.

The withdrawn rules had targeted recordkeeping, verification and reporting requirements for certain digital asset transactions.

The initiative marks a direct shift toward light-touch federal oversight across emerging digital asset markets.