Trump Treasury Withdraws 2020 Self‑Custody Wallet Rule After Years of Regulation
Current overview (not historical)
In December 2020, the Trump Treasury, through FinCEN, proposed a rule requiring crypto exchanges and financial institutions to collect the name and address of counterparties for self‑custody wallet transactions exceeding $10,000, and to record any transaction over $3,000. On October 18 2026, during Trump’s second term, the Treasury formally withdrew the proposal, ending a multi‑year regulatory process. This move removes the previously pending compliance obligations for crypto‑related transactions and signals a shift in the U.S. Treasury’s approach to crypto‑privacy and regulatory oversight.
Written with AI from the reporting · updated 10/18/2026
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- 1Unclassified fact stationOct 5, 00:00recorded Oct 18, 15:26single sourcerevised
FinCEN formally withdrew 2020 unhosted‑wallet and 2023 mixin
Read original source ↗ CryptoSlateReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- Action：
- withdrawn
- Object：
- 2020 unhosted‑wallet proposal and 2023 cryptocurrency‑mixing proposal
- Occurred (fact side)：
- Oct 5, 00:00
- Published (valid side)：
- Oct 18, 15:00
- First seen (known side)：
- Oct 18, 15:26
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- CryptoSlateRelated fact: single sourceSource report revisedTrump administration withdraws crypto wallet reporting proposal six years after it was first announced
Report first recorded Oct 18, 15:26
The Trump administration withdrew a proposal that would have required crypto exchanges and financial institutions to collect user data for self-custodied wallet transactions, ending a regulatory proceeding that began in December 2020. The original rule, justified by national security concerns, would have extended reporting requirements to unhosted wallets, but faced thousands of objections and survived a transition to the Biden administration before being formally reversed in October 2026.
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