Congratulations, the US got you cryptocurrency regulation for Christmas

Illustration by Alex Castro / The Verge

Under new proposed regulations from the Financial Crimes Enforcement Network, it may become much easier for the government to track bitcoin transactions. And while there’s currently a 15-day comment period open, cryptocurrency exchange Coinbase and the Electronic Frontier Foundation are calling foul because that period includes Christmas Eve, Christmas Day, New Year’s Eve, and New Year’s Day.

The proposed regulations in question, which were filed at 4:20PM ET on December 18th, are about private wallets. Let’s say I am a famous and fancy cryptocurrency investor, and I do some trading on Coinbase. If I have my own private wallet that I want to transfer my money to, I will have to identify myself as the wallet’s owner if I’m sending more…

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Author: Elizabeth Lopatto