Despite many objections to the truncated timeframe, public comments are due tonight in response to the U.S. Treasury’s proposal to require businesses like crypto exchanges to know the identities behind wallets with which they transact.
As of Sunday night, the Treasury’s Financial Crimes Enforcement Network, or FinCEN, had recorded 5,633 responses to its proposed rule. That number is despite the fact that FinCEN gave only 15 days, rather than the usual 60 for responses.
The office dropped its announcement on Dec. 18, a Friday evening a week before Christmas Day in the states. Meanwhile, today, the due date, is the first usual workday after New Year’s Day. Not to mention the fact that the Treasury is only 16 days away from the auspices of a Biden administration.
FinCEN’s timing has been the subject of criticism from a number of lawmakers as well as the crypto community. Adding to the problem, some potential commenters have reported issues on using the U.S. federal government’s main portal. Particularly on Tuesdays and Thursdays, a separate beta site has been damaging links.
Which is not to mention criticism of the rule itself, which would require registered money services businesses, especially crypto exchanges, to both adopt Bank Secrecy Act limits on transactions to and from their platforms and, indeed, go beyond them by requiring they know the beneficial identity of any self-hosted crypto wallet on the other end of a transaction valued at $3,000 or more. Many see this as a bold violation of privacy by a Treasury regime that is not going to have to see the policy through.
News source CoinTelegraph.com
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Something new from the @GuardaWallet
team! A beautiful new Expanse Explorer https://expexplorer.guarda.co It comes with every bell and whistles you could imagine. It's a great companion product to go with their wonderful wallet. We are very grateful for their contributions to expanse.
Block explorer going in maintenance mode for another hr ish.
The Explorer Node is traditionally an archive node so it might take roughly 3 hours to sync. Ty for you patience.
Quick Update: The expanse explorer server got upgraded today. EggSwap Vision should be released next week. The EggSwap team is working on adding DGB Token Bridge as the first one. We are big fans of the DGB project because embodies the ethos of crypto!
What coin would you like see available on EggSwap?
@ExpanseOfficial @UniswapProtocol @eggswap After the very needed implementation and news of the EGGSWAP-Eth bridge for fee relief, while momentum is up, please hit everyone with the rough but full roadmap of features coming. Vampire attack after eth linked? Nft exchange?
Raise your hand if you are tired of your favorite projects being held hostage and extorted by exchanges in this space. Projects like @UniswapProtocol and @Eggswap are important because they give the power back to the people.