🇺🇸 FinCEN and the Federal Reserve withdrew their 2020 Travel Rule proposal on Nov 6. It would have lowered the cross-border reporting and recordkeeping threshold from $3,000 to $250 and explicitly covered crypto.
The existing $3,000 threshold stays. Nearly 3,000 comments raised privacy and cost concerns. Exchanges still follow current AML and Travel Rule requirements, and regulators say any future change would need a new proposal and public comment.
A reprieve for small crypto transfers, though policy risk around stablecoins and cross-border flows remains. What’s your view: smart balance or temporary pause? 👇
#Crypto #CryptoNews #Bitcoin
Not financial advice. Sources: The Block, Coin Center
$BTC
The existing $3,000 threshold stays. Nearly 3,000 comments raised privacy and cost concerns. Exchanges still follow current AML and Travel Rule requirements, and regulators say any future change would need a new proposal and public comment.
A reprieve for small crypto transfers, though policy risk around stablecoins and cross-border flows remains. What’s your view: smart balance or temporary pause? 👇
#Crypto #CryptoNews #Bitcoin
Not financial advice. Sources: The Block, Coin Center
$BTC
