Treasury Wanted a Token Swap or a Fresh Wallet Address Counted as 'Mixing.' It Just Dropped the Rule
FinCEN withdrew two crypto surveillance proposals on October 5: the 2023 mixer rule, whose definition of 'CVC mixing' covered swapping between tokens and using single-use addresses, and the 2020 unhosted wallet rule that would have made banks and MSBs collect ID on self-custody transfers over $3,000. Both formally die when the notices publish in the Federal Register on October 6.