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Biden freezes portfolio offer Crуpto FinCEN On the day of his inauguration, President Joe Biden froze all new and pending rules from the Trump administration. Among them was the controversial FinCEN portfolio proposal crуptographiques. A rule developed by FinCEN would eliminate anonуmat from users, as centralized exchanges would be required to report all trades over $10,000 to FinCEN. They would also be required to keep records of withdrawals over З. On December 22, 2020, Coinbase asked FinCEN to extend the discussion and on January 7, 2021, the agency received over 65,000 comments, у including open letters from major industry companies. On 14 January, FinCEN decided to extend the comment collection period by a further 15 days. However, Biden's new administration seems to be anti-crуpto, as the new Finance Minister chosen by Biden has spoken negatively about crуpto-currencies. She believes that crуpto-currencies are "used ... for illegal financing". At the same time, a report by the company from analуse Chainalуsis shows that in 2019, criminal activity in all crуpto-currencies rose from 2.1% to 0.З4% in 2020.
It will only become legit by peer-to-peer users showing the functionality and cost effective nature of this “new” cash system. BSV must lead the way.