Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

[waybesuricata]

As many in the crypto industry have said, 15 days over the holidays is just not enough time to respond.

ine congresspeople have signed on to a letter to Treasury Secretary Steven Mnuchin, telling him to hold his horses.

The Thursday letter is in response to the Treasury's recent proposal to make registered crypto businesses hold on to more customer information, especially when transacting with self-hosted wallets.

The proposal has been met with widespread outrage from the crypto community. Among grievances, many cite the fact that Mnuchin is pushing this rule out just weeks before the administration of Joe Biden comes into power, and with it his likely replacement, Janet Yellen.

Source and continuation of the article: https://cointelegraph.com/news/congresspeople-chastise-the-treasury-fro-rushing-new-crypto-monitoring-proposal