The Twitter and Square CEO published an open letter against a proposal from the U.S. Financial Crimes Enforcement Network that would require financial institutions like Square to collect the personal data of customers who transfer at least US$3,000 a day in crypto to self-hosted wallets, among other measures. Dorsey said the rule would create “unnecessary friction and perverse incentives” for cryptocurrency customers to avoid regulated entities for transactions. (CoinDesk, The Logic)
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