Fed and FinCEN withdraw plan to lower cross-border crypto Travel Rule to $250
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
FinCEN and the Federal Reserve are dropping a proposed rule to cut the cross-border transaction reporting threshold to $250, keeping the requirement at $3,000, according to crypto.news.
The Federal Reserve Board and the Financial Crimes Enforcement Network are dropping a joint regulatory proposal that aimed to reduce the cross-border Travel Rule and recordkeeping threshold from $3,000 to $250, crypto.news reported. The decision, officially taking effect on November 9, 2026, closes a rulemaking effort started in October 2020 that would have compelled U.S. cryptocurrency exchanges, custodians, and financial institutions to collect and share identity details on international transfers of $250 or more.
According to a joint notice cited by crypto.news, the regulators pointed to the elapsed time alongside shifts in digital asset markets and policy as reasons for terminating the initiative. The existing $3,000 threshold will continue to govern covered international transactions under the Bank Secrecy Act. While the agencies officially closed the current draft, they noted they may revisit related rules in future proceedings.
Key facts
- Threshold remains $3,000
- Proposed $250 rule withdrawn
- Takes effect on Nov. 9, 2026
- Fed and FinCEN joint notice
Read the original at crypto.news