Reporting · policy
FinCEN and Federal Reserve withdraw 2020 proposal to lower transfer threshold
US regulators withdrew a 2020 proposal that would have cut a transfer threshold to $250, and they have not given a timeline for a new plan.
Quick take
- FinCEN and the Federal Reserve have withdrawn a 2020 proposal to cut a transfer threshold to $250.
- The $3,000 threshold for cross-border transfers stays in place, and crypto definition language was dropped too.
- The agencies cited maturing crypto markets, the GENIUS Act and the five years elapsed since the proposal, along with a need for feedback.
Per Bitcoin Magazine, the Federal Reserve and FinCEN have pulled back a 2020 plan that aimed to lower the threshold to $250. The notice appeared in the Federal Register on Monday. The $3,000 threshold for cross-border transfers remains unchanged, and language defining crypto has also been dropped.
The agencies received nearly 3,000 comments, most of them form letters. Commenters opposed the lower threshold, arguing it would burden smaller institutions. Crypto firms objected to the crypto wording, citing technical limits. The agencies cited the five years that had passed since the proposal and said they still needed feedback.
In explaining the move, the agencies pointed to maturing crypto markets and the GENIUS Act, which was enacted July 18, 2025. The notes contain no timeline for any new proposal, so no date has been set for a replacement rule. Readers tracking the rules should note that the proposed changes are off the table, while the existing $3,000 cross-border threshold continues to apply.
Sources
Machine-written from the publishers’ reports and checked against them · How Dextape writes
Mentioned in this story
CoinGecko last prints. Not a Dextape quote.
Reporting
Strategy spends $188.3M on STRC buyback, more than twice its bitcoin purchase
November 9, 2026 · 1 min read
Reporting
Strive adds 29 bitcoin as holdings reach 43,153 BTC
November 9, 2026 · 1 min read
Reporting