Unhosted wallet NPRM: extension of comment period to Mar 29, 2021 (86 FR 7352)
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Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.
7352
Proposed Rules Federal Register
Vol. 86, No. 17
Thursday, January 28, 2021
This section of the FEDERAL REGISTER the NPRM’s proposed recordkeeping currency transaction reports, and (ii)
contains notices to the public of the proposed requirements. This notice of extension establishing new recordkeeping
issuance of rules and regulations. The of comment period (‘‘Extension Notice’’) requirements for certain CVC or LTDA
purpose of these notices is to give interested extends the reopened comment period transactions that are similar to the
persons an opportunity to participate in the to allow additional time to respond to
rule making prior to the adoption of the final
recordkeeping and travel rule
rules.
all aspects of the NPRM and sets one requirements pertaining to funds
closing date for the comment period, transfers and transmittals of funds. The
instead of the two currently in effect. original comment period formally
DEPARTMENT OF THE TREASURY Accordingly, all comments to the closed on January 7, 2021, although
proposed NPRM are now due 60 days FinCEN took steps to ensure comments
Financial Crimes Enforcement Network from the date of publication of this could still be received after that date. In
Extension Notice. the Reopening Notice, published on
31 CFR Parts 1010, 1020, and 1022 DATES: The comment period for the January 15, 2021, FinCEN reopened the
RIN 1506–AB47 proposed rule published on December comment period.2 Specifically, FinCEN
23, 2020 (85 FR 83840), which was provided an additional 15 days for
Requirements for Certain Transactions extended on January 15, 2021 (86 FR comments on the NPRM’s proposed
Involving Convertible Virtual Currency 3897), is further extended. Comments reporting requirements regarding
or Digital Assets must be received by March 29, 2021. information on CVC or LTDA
ADDRESSES: Comments may be transactions greater than $10,000, or
AGENCY: Financial Crimes Enforcement
Network (‘‘FinCEN’’), Treasury. submitted by any of the following aggregating to greater than $10,000, that
methods: involve unhosted wallets or wallets
ACTION: Notice of proposed rulemaking;
• Federal E-rulemaking Portal: http:// hosted in a jurisdiction identified by
extension of comment period.
www.regulations.gov. Follow the FinCEN. FinCEN further provided in the
SUMMARY: On December 23, 2020, instructions for submitting comments. Reopening Notice for an additional 45
FinCEN published a notice of proposed Refer to Docket Number FINCEN–2020– days for comments on the NPRM’s
rulemaking (the ‘‘NPRM’’) proposing 0020 and the specific RIN number proposed requirements that banks and
requirements for banks and money 1506–AB47 to which the comment MSBs report certain information
services businesses (‘‘MSBs’’) related to applies. regarding counterparties to transactions
certain transactions involving • Mail: Policy Division, Financial by their hosted wallet customers, and on
convertible virtual currency (‘‘CVC’’) or Crimes Enforcement Network, P.O. Box the NPRM’s proposed recordkeeping
digital assets with legal tender status 39, Vienna, VA 22183. Refer to Docket requirements.
(‘‘LTDA’’). On January 15, 2021, FinCEN Number FINCEN–2020–0020 and the This Extension Notice extends the
published a document reopening the specific RIN number. reopened comment period for all
comment period for the NPRM (the FOR FURTHER INFORMATION CONTACT: The aspects of the NPRM’s proposals to
‘‘Reopening Notice’’). In the Reopening FinCEN Regulatory Support Section at March 29, 2021, thereby further
Notice, FinCEN provided an additional 1–800–767–2825 or electronically at extending the time to respond and
15 days for comments on the NPRM’s [email protected]. making the timing of the two periods
proposed reporting requirements SUPPLEMENTARY INFORMATION: The consistent, with one deadline for all
regarding information on CVC or LTDA NPRM was published in the Federal comments to the NPRM.
transactions greater than $10,000, or Register on December 23, 2020.1 In the
aggregating to greater than $10,000, that By the Department of the Treasury.
NPRM, FinCEN proposed to address the
involve unhosted wallets or wallets threat of illicit finance with respect to Kenneth A. Blanco,
hosted in a jurisdiction identified by certain transactions involving CVC or Director, Financial Crimes Enforcement
FinCEN. FinCEN further provided in the LTDA by (i) establishing new reporting Network.
Reopening Notice for an additional 45 requirements for certain CVC or LTDA [FR Doc. 2021–01918 Filed 1–26–21; 8:45 am]
days for comments on the NPRM’s transactions analogous to existing BILLING CODE 4810–02–P
proposed requirements that banks and
MSBs report certain information 1 Requirements for Certain Transactions Involving 2 Requirements for Certain Transactions Involving
regarding counterparties to transactions Convertible Virtual Currency or Digital Assets, 85 Convertible Virtual Currency or Digital Assets, 86
by their hosted wallet customers, and on FR 83840 (Dec. 23, 2020). FR 3897 (Jan. 15, 2021).
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