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U.S. Regulators Drop $250 Travel Rule Plan, Crypto Language Too
FinCEN and the Federal Reserve formally withdrew a 2020 proposal that would have cut the cross-border funds-transfer threshold from $3,000 to $250 and spelled out that the rules cover crypto, saying any future version needs a fresh comment period.
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Policy text and timing change what products can ship and who can custody or list assets. Read the primary draft before treating a headline as a rule.
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FinCEN and Federal Reserve withdraw 2020 proposal to lower transfer threshold
Terms in this story
- Travel Rule
- A requirement for crypto service providers to pass sender and recipient details along with transfers, as banks do for wires.
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