The "Proposed Crypto Wallet Rule" originally refers to a controversial 2020 regulatory proposal by the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN). It sought to impose strict reporting and record-keeping requirements on transactions involving "unhosted" (self-custodied) cryptocurrency wallets.
The FinCEN wallet rule was one of the most prominent items caught in this freeze. The proposal would have required: Proposed Crypto Wallet Rule Among Those Frozen ...
Many feared the rule would stifle American leadership in the digital asset sector by burdening developers with legacy banking compliance. Modern Context (2025–2026) The "Proposed Crypto Wallet Rule" originally refers to
The rule sparked a "firestorm" within the crypto community, leading to over . leading to over .