FinCEN Withdraws Proposed Rules on Unhosted Wallet Transactions and CVC Mixing

The U.S. Financial Crimes Enforcement Network (FinCEN) announced on 5 October 2026 that it is withdrawing two proposed rules concerning convertible virtual currency (CVC) and other digital assets.

The first proposal would have imposed recordkeeping, verification and reporting requirements on certain transactions involving CVC and unhosted wallets. The second would have imposed a special measure concerning CVC mixing.

FinCEN said it considered comments submitted in response to the proposals and is withdrawing them as part of the U.S. administration’s deregulatory agenda and efforts to ensure digital-asset regulations are fit for purpose.

The action withdraws proposed rules rather than rescinding final rules. The two proposals therefore will not proceed in their proposed form.

Source

Financial Crimes Enforcement Network, “FinCEN Announces Withdrawals of Proposed Digital Asset Related Rules,” 5 October 2026.