U S Treasury Department

FinCEN has withdrawn a proposed rule that would have required banks and crypto businesses to report certain large transfers involving self-custody wallets. The agency also dropped a separate proposal focused on crypto mixers, saying the move supports a deregulatory push and more tailored digital-asset rules.

Bitcoin has rebounded sharply from its August low as liquidity hopes, dollar weakness and renewed U.S. crypto policy momentum boosted sentiment. FXCOINZ examines the major risks that could stall or reverse the move as traders focus on inflation, the Federal Reserve, the Clarity Act and stretched technical signals.

The U.S. Treasury Department has proposed key definitions and jurisdictional standards for implementing the GENIUS Act, a major step toward a federal framework for payment stablecoins. The proposal opens a 60-day comment window as regulators work through delayed rulemaking ahead of the law’s expected effective date.

The U.S. Treasury has sanctioned Shelbit Exchange and Iran-based Aban Tether, alleging the platforms helped Iran move funds outside traditional banking channels. The action expands Washington’s campaign against crypto networks and shadow banking channels tied to sanctioned Iranian entities.