Wu Blockchain has learned that the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has withdrawn the non-custodial crypto wallet transaction reporting rule proposed in 2020 and stated that it will no longer pursue the proposal. The original proposal required banks and money service businesses (MSBs) to report relevant information and verify customer identities for crypto asset transactions exceeding $10,000 between customers and non-custodial wallets, while transactions exceeding $3,000 would require record-keeping. FinCEN stated that this withdrawal is part of the Trump administration's push to make digital asset regulations more fit-for-purpose. https://www.(wublock123.com)/news/fincen-withdraws-noncustodial-wallet-reporting-rule-69550