FinCEN has already issued proposed regulations that would require banks and money service businesses to submit reports, keep records, and verify the identity of customers for transactions involving cryptocurrency with legal tender status (legal tender digital assets) held in “unhosted”, non-custodial, wallets. The enhanced recordkeeping concerning non-custodial wallets would be triggered by cryptocurrency transactions in the amount of $3,000 or more. Notably, the period for public comment was lessened to 15-days by FinCEN, down from the traditional 30-day comment period. FinCEN’s proposed regulation changes have met much opposition in the crypto community and is opposed by some Members of Congress and by other proponents of privacy rights.