#FinCENAndFedWithdraw$250CryptoTransferProposal
🏦 $250 Plan Scrapped — $3,000 Line Still Stands
FinCEN and the Fed shelved a 2020 plan that would have pulled far more crypto transfers into Travel Rule reporting.
📊 Cross-border threshold stays at $3,000 for banks and crypto MSBs
📅 Withdrawal effective with Federal Register publication Nov 9
⚠️ 2020 NPRM would have cut that line to $250
🏦 Nearly 3,000 comments opposed costs and data collection
The catch: Travel Rule still applies — only the lower bar is gone.
Keep $3,000 for good, or rewrite a new rule later? 👇
$BTC $ETH
#FinCENAndFedWithdraw$250CryptoTransferProposal #Crypto #Regulation
🏦 $250 Plan Scrapped — $3,000 Line Still Stands
FinCEN and the Fed shelved a 2020 plan that would have pulled far more crypto transfers into Travel Rule reporting.
📊 Cross-border threshold stays at $3,000 for banks and crypto MSBs
📅 Withdrawal effective with Federal Register publication Nov 9
⚠️ 2020 NPRM would have cut that line to $250
🏦 Nearly 3,000 comments opposed costs and data collection
The catch: Travel Rule still applies — only the lower bar is gone.
Keep $3,000 for good, or rewrite a new rule later? 👇
$BTC $ETH
#FinCENAndFedWithdraw$250CryptoTransferProposal #Crypto #Regulation
