“FinCEN's regular wallet KYC proposal officially dead. In 2020, the Financial Crimes Enforcement Network proposed KYC requirements for regular Bitcoin wallets, prompting immense backlash from the industry. The proposal faced a major setback when the comment period was extended by 15 days, ensuring President Joe Biden would be in office instead of Trump/Mnuchin. Although the rule occasionally resurfaced, it was never seriously reconsidered. Finally, on August 19, 2024, the proposal was officially withdrawn.”

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