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Mnuchin's Crypto Wallet Legislation Meets Opposition
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investopedia.comA group of Republican lawmakers has written a letter to Treasury Secretary Steven Mnuchin expressing concern about his department's plan to impose a new regulation on the cryptocurrency industry. The regulation, which is rumored to be in the works but has not been confirmed by the department, requires financial institutions to verify identities of recipients and senders for transactions involving self-hosted crypto wallets or wallets that are not provided by a financial institution or service. Examples of such wallets include hardware wallets or a wallet running on a user's computer.
Brian Armstrong, CEO of cryptocurrency exchange Coinbase, had tweeted about the regulation last week, claiming that it could have «unintended side effects» and
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