To review, Treasury Secretary Steven Mnuchin is attempting to push through an 11th-hour action aimed at throwing a regulatory wrench into the cryptocurrency markets. The proposed new rule looks to expand Know Your Customer ((KYC)) obligations to parties who may not even be customers.Typically, there's a 30-day comment period before proposals like this can be implemented, which would take the date past Jan. 20, when Mnuchin will have been shown the door at Treasury. And the incoming administration is likely to have a friendlier stance towards the crypto market than the current one. Treasury, however is using some fancy legal footwork to make today the last day for public comments."We believe this rule will do the opposite of what it intends, will leave people out of participating fully in the economy, and that it being rushed prevents better solutions.," says Square (SQ), coming out forcefully against the proposal. "Instead of
