FinCEN and the Fed withdraw 2020 plan to tighten crypto travel rule
FinCEN and the Federal Reserve Board rescinded a 2020 proposal that would have cut the threshold for collecting and passing on transfer information from $3,000 to $250, including for cross-border crypto payments. FinCEN said the crypto industry has changed in the five-plus years since and that fresh public input is needed before any rewrite. Coin Center and the Crypto Council for Innovation welcomed the move, which follows last month's withdrawal of proposed unhosted-wallet and mixer rules.