Coin Center sends a letter to Finance Minister Mnuchin requesting to extend the emergency consultation period for FinCEN rulemaking
According to Jerry Brito, head of the US cryptocurrency think tank Coin Center, they have already cooperated with people in Congress and wrote to US Treasury Secretary Mnuchin requesting an extension of the FinCEN rule-making emergency consultation period. Jerry Brito encourages everyone in the cryptocurrency ecosystem to submit comments on the formulation of the FinCEN rules, explaining how the rules will affect the entire industry and the unintended consequences. He believes that comments are really helpful. It is reported that U.S. Treasury Secretary Mnuchin plans to finalize the rule before he leaves office on January 20, but U.S. law requires that all comments be considered before finalizing the rule. If a large number of substantive criticisms are raised, it will not be possible on January 20. The rules will be finalized before the date. In this regard, Coinbase CEO Brian Armstrong expressed his support. He called on everyone who owns cryptocurrencies to start actively participating in these issues. An open crypto network is good for the world.