WBD292 - FinCEN's Discriminatory Rulemaking with Jerry Brito & Peter Van Valkenburgh
Steven Mnuchin, the Treasury Secretary of the United States, is looking to implement a new regulation that would require financial institutions to verify the identity of both senders and recipients of any Bitcoin transaction, over $3000.
A few weeks ago, Coinbase CEO, Brian Armstrong tweeted that Mnuchin was looking to 'rush out' new regulation before the end of President Trump's term in office.
This regulation is not without opposition and Coin Center is addressing many concerns with the new rules and the method in which they are being passed.
In this interview, I talk to Jerry Brito and Peter Van Valkenburgh, Coin Center Executive Director and Research Director. We discuss the implications of the new regulations, the key issues and what you can do to prevent them from passing.