U.S. Regulators Drop $250 Travel Rule Plan, Crypto Language Too

Bitcoin Magazine U.S. Regulators Drop $250 Travel Rule Plan, Crypto Language Too FinCEN and the Federal Reserve have formally withdrawn a 2020 proposal that would have cut the Bank Secrecy Act threshold for cross-border funds transfers from $3,000 to $250 and spelled out that the rules cover crypto, leaving the existing $3,000 line in place. The notice, published Monday in the Federal Register, says the Financial Crimes Enforcement Network and the Fed’s Board of Governors “will not take further action” on a proposal they first issued on Oct. 27, 2020. That plan would have lowered the recordkeeping and Travel Rule thresholds to $250 for transfers that begin or end outside the United States.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Bitcoin Magazine.