The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has released a new proposal which demands submission of money services business reports, keep records and verify the identity of customers as they relate to digital currencies “held in unhosted wallets … or held in wallets hosted in a jurisdiction identified by FinCEN.” In simpler words, users of centralized cryptocurrency exchanges need to provide complete personal detail if they want to move their holdings.