Just saw the regulatory news
A little less strict than expected 😮
FinCEN and the Federal Reserve
have withdrawn their 2020 proposal
that would have lowered the Travel Rule threshold for cross-border transfers
from $3,000 to $250
The threshold stays at $3,000
Small cross-border transfers won’t need an extra layer of identity checks
The proposal had been pending for over five years
The industry has changed
They received nearly 3,000 public comments, by the estimate
Officials say they’ll seek feedback again before revisiting it
Last month, they also withdrew the two proposals on unhosted wallets and mixing
This is another old issue put to rest
I’ll make a note of it
Not exactly cause for celebration
A little less strict than expected 😮
FinCEN and the Federal Reserve
have withdrawn their 2020 proposal
that would have lowered the Travel Rule threshold for cross-border transfers
from $3,000 to $250
The threshold stays at $3,000
Small cross-border transfers won’t need an extra layer of identity checks
The proposal had been pending for over five years
The industry has changed
They received nearly 3,000 public comments, by the estimate
Officials say they’ll seek feedback again before revisiting it
Last month, they also withdrew the two proposals on unhosted wallets and mixing
This is another old issue put to rest
I’ll make a note of it
Not exactly cause for celebration
