FinCEN's wallet rule is open for another day of comments because 'government officials can’t count to 15'

FinCEN's wallet rule is open for another day of comments because 'government officials can’t count to 15'


The U.S. Treasury may have accidentally widened the window of opportunity for anyone wishing to submit comments regarding the Financial Crimes Enforcement Network’s new crypto rules.

Last month, the Financial Crimes Enforcement Network, or FinCEN, proposed rules that would require registered crypto exchanges to verify the identity of people using “an unhosted or otherwise covered wallet” for a transaction of more than $3,000. At the time, the regulator stated that stakeholders would have 15 days to respond with comments, later clarifying that the submission period would end on Jan. 4.

However, according to Regulations.gov — the website responsible for accepting comments on the proposed FinCEN rule — crypto users have until tomorrow, Jan. 7 at 11:59 PM ET to respond. This effectively means FinCEN may have submitted their proposal on Dec. 23 and not Dec. 20 as previously reported.

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