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US Treasury’s Proposed Crypto Wallet Rule Is Unconstitutional, Warns Civil Rights Group

The New Civil Liberties Alliance has objected to FinCEN’s proposed crypto wallet rule, calling it “unlawful.” In addition, the group says that the U.S. Treasury’s “planned ‘crackdown’ on cryptocurrency holders’ private wallets is an unconstitutional power grab.” FinCEN’s Proposed Crypto Wallet Rule Is Unlawful, Says NCLA The New Civil Liberties Alliance (NCLA), a nonpartisan, nonprofit civil rights group, filed its comments on Monday objecting to FinCEN’s proposed rule, entitled “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets.” The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Treasury Department. The NCLA warned: The U.S. Treasury…

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