I hope everyone is doing well and gearing up for a Merry Christmas! Bitcoin hit a new all time high on Sunday, December 20th, of $24,190!

As you may have heard, FinCEN issued a notice of proposed rule making — they gave a whole 15 days for comments — and propose to make Bitcoin and other digital currencies fall under the definition of monetary instrument. This means extra reporting for Banks and Money Service Businesses (MSBs). If the rule goes through, MSBs will need to keep a monetary instrument log, recording any transactions valued between $3,000 — $10,000.

The Log needs to…

About

Sasha Hodder

Crypto Attorney; Former Trader; Host of the Hodlcast Podcast; Freedom Enthusiast; www.sashahodler.com; @sashahodler

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