According to CoinMeta, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department announced on October 5th that it was withdrawing two regulations regarding transactions from unmanaged wallets and digital assets that combine convertible virtual currencies. These proposals, which had not been finalized for many years, would have imposed new record-keeping or reporting obligations on financial institutions. The withdrawal does not cancel the anti-money laundering (AML) and customer identification (KYC) regulations that already apply to regulated crypto enterprises. The withdrawn proposals had sparked widespread criticism regarding privacy, implementation, and the handling of self-custodied transactions, and they are now officially terminated. Although these proposals will no longer be pursued, the regulatory threats do not disappear; regulated exchanges, banks, and currency service companies still need to comply with the existing AML obligations and customer identification requirements.