Proposed Crypto Wallet Rule Among Those Frozen ... 💯 Verified

Exchanges to verify the identity of owners for transactions over $3,000 to unhosted wallets.

Critics noted it was technically impossible for some decentralized finance (DeFi) protocols or smart contracts to collect the required name and address data.

The FinCEN wallet rule was one of the most prominent items caught in this freeze. The proposal would have required: Proposed Crypto Wallet Rule Among Those Frozen ...

Advocates argued the rule was a "significant intrusion" into personal privacy and financial autonomy.

Automatic filing of Currency Transaction Reports (CTRs) for transactions exceeding $10,000 . Arguments and Industry Pushback Exchanges to verify the identity of owners for

By 2026, the regulatory landscape shifted from total "freezes" to targeted implementation and legislative reform.

The rule sparked a "firestorm" within the crypto community, leading to over . The proposal would have required: Advocates argued the

On his first day in office in January 2021, President Joe Biden issued a memorandum halting all "new or pending" rules from the previous administration. This "regulatory freeze" was a standard procedure to allow the incoming administration time to review pending policies.