The U.S. FinCEN and Federal Reserve announced on November 6 that they are withdrawing a proposal made in 2020 to lower the recordkeeping threshold for cross-border transfers. The proposal would have lowered the threshold for collecting and transmitting information on cross-border transfers from $3,000 to $250 and explicitly covered convertible virtual currencies. The withdrawal notice is scheduled to be published in the Federal Register and take effect on November 9. The existing $3,000 threshold remains unchanged, and qualifying crypto transfers are still subject to the Travel Rule. Sources: Joint announcement by FinCEN and the Federal Reserve; reports on November 6–7 by CoinDoo, Blockchain Reporter, and others. $BTC $ETH