Crypto Privacy Fight: Banks Want DeFi in the Reporting Net
Photo: Coindoo
Key Takeaways FinCEN withdrew three crypto data proposals since October BPI wants DeFi controllers designated as financial institutions $250 threshold scrapped; $3,000 Travel Rule trigger stays BPI: banks see only crypto’s fiat endpoints In a November 6 letter , the Bank Policy Institute, which represents universal, regional and major foreign banks operating in the U.S., asked FinCEN and the Office of Foreign Assets Control to designate digital-asset service providers, and the people who operate or control decentralized finance arrangements, as “financial institutions” under the Bank Secrecy Act. Three withdrawals in five weeks The letter answers a run of retreats.
Source: Coindoo
