🇺🇸 *US Treasury & Fed WITHDRAW $250 Crypto Travel Rule! 🔥*
Big win for crypto privacy!
What Happened?
On Nov 6, FinCEN (Treasury) + Federal Reserve withdrew the 2020 proposal to lower the cross-border reporting threshold from *$3,000 → $250*. Effective Nov 9.
What Does It Mean?
1. For Users:
Your small cross-border transfers ($250 - $3,000) will NOT trigger extra personal data collection. No new KYC burden.
2. For Exchanges:
No extra cost to collect & share sender/receiver info on thousands of small transactions. Existing $3,000 rule stays.
3. Why Withdrawn?
- Proposal was 5+ years old (Oct 2020)
- Industry changed completely
- ∼3,000 public comments raised privacy + compliance cost concerns
- GENIUS Act + July 2025 White House crypto report changed landscape
4. Is This Final?
No. Agencies left door open for NEW rulemaking after fresh public comment. Also follows last month's withdrawal of unhosted wallet + mixing rules.
Bottom Line: Status quo wins. $3,000 threshold stays. This is a privacy win, not a full deregulation.
Bullish or just relief? 👇
#FinCENAndFedWithdraw$250CryptoTransferProposal #crypto #TravelRule #FinCEN #FederalReserve
