Evidence record
FinCEN and the Federal Reserve withdraw the 2020 proposal to cut the cross-border Recordkeeping and Travel Rule threshold to $250 and to clarify coverage of convertible virtual currency
Read the item · published 2026-11-06
Evidence
- Confidence
- High Primary source (regulator / official record); quote string-matched against the live page.
- Quote verified
- 2026-11-07 16:56 UTC
- Archived snapshot
- SHA-256
efaa3a37b8ba68188ade5972adca30b1709e2a6ad25ffea54eeb667726b634a4· fetched 2026-11-07 · Wayback Machine copy ↗ - Source type
- Primary Financial Crimes Enforcement Network (FinCEN) and Federal Reserve Board ↗
… published on October 27, 2020, that proposed modifying the threshold in the Agencies’ rules implementing the Bank Secrecy Act (BSA) requiring financial institutions to collect and retain information on certain funds transfers and transmittals of funds. The NPRM would have reduced this threshold from $3,000 to $250 for funds transfers and transmittals of funds that begin or end outside the United States. FinCEN additionally proposed reducing from $3,000 to $250 the threshold in FinCEN’s rule requiring financial institutions to transmit to other financial institutions in the payment chain information on funds transfers and transmittals of funds that …
Change log (1)
- 2026-11-07 Published
Verified quotes
“The NPRM would have reduced this threshold from $3,000 to $250 for funds transfers and transmittals of funds that begin or end outside the United States.”
“The Agencies will not take further action on this NPRM.”
String-matched against https://public-inspection.federalregister.gov/2026-22809.pdf by our verifier before every deploy.
Additional evidence
AI-drafted from the primary source; quote string-matched against the live source page · AI-assisted