Federal Register - January 28, 2021
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Fuente: Federal Register
7352
Proposed Rules
Federal Register Vol. 86, No. 17
Thursday, January 28, 2021
This section of the FEDERAL REGISTER
contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules.
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network 31 CFR Parts 1010, 1020, and 1022
RIN 1506AB47
Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets Financial Crimes Enforcement Network FinCEN, Treasury.
ACTION: Notice of proposed rulemaking;
extension of comment period.
AGENCY:
On December 23, 2020, FinCEN published a notice of proposed rulemaking the NPRM proposing requirements for banks and money services businesses MSBs related to certain transactions involving convertible virtual currency CVC or digital assets with legal tender status LTDA. On January 15, 2021, FinCEN
published a document reopening the comment period for the NPRM the Reopening Notice. In the Reopening Notice, FinCEN provided an additional 15 days for comments on the NPRMs proposed reporting requirements regarding information on CVC or LTDA
transactions greater than $10,000, or aggregating to greater than $10,000, that involve unhosted wallets or wallets hosted in a jurisdiction identified by FinCEN. FinCEN further provided in the Reopening Notice for an additional 45
days for comments on the NPRMs proposed requirements that banks and MSBs report certain information regarding counterparties to transactions by their hosted wallet customers, and on
SUMMARY:
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the NPRMs proposed recordkeeping requirements. This notice of extension of comment period Extension Notice extends the reopened comment period to allow additional time to respond to all aspects of the NPRM and sets one closing date for the comment period, instead of the two currently in effect.
Accordingly, all comments to the proposed NPRM are now due 60 days from the date of publication of this Extension Notice.
DATES: The comment period for the proposed rule published on December 23, 2020 85 FR 83840, which was extended on January 15, 2021 86 FR
3897, is further extended. Comments must be received by March 29, 2021.
ADDRESSES: Comments may be submitted by any of the following methods:
Federal E-rulemaking Portal: http
www.regulations.gov. Follow the instructions for submitting comments.
Refer to Docket Number FINCEN2020
0020 and the specific RIN number 1506AB47 to which the comment applies.
Mail: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN20200020 and the specific RIN number.
FOR FURTHER INFORMATION CONTACT: The FinCEN Regulatory Support Section at 18007672825 or electronically at frc@fincen.gov.
SUPPLEMENTARY INFORMATION: The NPRM was published in the Federal Register on December 23, 2020.1 In the NPRM, FinCEN proposed to address the threat of illicit finance with respect to certain transactions involving CVC or LTDA by i establishing new reporting requirements for certain CVC or LTDA
transactions analogous to existing
currency transaction reports, and ii establishing new recordkeeping requirements for certain CVC or LTDA
transactions that are similar to the recordkeeping and travel rule requirements pertaining to funds transfers and transmittals of funds. The original comment period formally closed on January 7, 2021, although FinCEN took steps to ensure comments could still be received after that date. In the Reopening Notice, published on January 15, 2021, FinCEN reopened the comment period.2 Specifically, FinCEN
provided an additional 15 days for comments on the NPRMs proposed reporting requirements regarding information on CVC or LTDA
transactions greater than $10,000, or aggregating to greater than $10,000, that involve unhosted wallets or wallets hosted in a jurisdiction identified by FinCEN. FinCEN further provided in the Reopening Notice for an additional 45
days for comments on the NPRMs proposed requirements that banks and MSBs report certain information regarding counterparties to transactions by their hosted wallet customers, and on the NPRMs proposed recordkeeping requirements.
This Extension Notice extends the reopened comment period for all aspects of the NPRMs proposals to March 29, 2021, thereby further extending the time to respond and making the timing of the two periods consistent, with one deadline for all comments to the NPRM.
1 Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets, 85
FR 83840 Dec. 23, 2020.
2 Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets, 86
FR 3897 Jan. 15, 2021.
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By the Department of the Treasury.
Kenneth A. Blanco, Director, Financial Crimes Enforcement Network.
FR Doc. 202101918 Filed 12621; 8:45 am BILLING CODE 481002P
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