The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board of Governors are jointly withdrawing a proposal that would have amended the Recordkeeping and Travel Rule regarding convertible virtual currencies and lowered the threshold for funds transfers and transmittals of funds that begin or end outside the United States.
FinCEN and Federal Reserve withdraw proposed virtual currency rule changes and international transfer threshold cut
The Financial Crimes Enforcement Network and the Federal Reserve Board of Governors are withdrawing proposed changes to the Recordkeeping and Travel Rule for convertible virtual currencies and a proposed threshold reduction for funds transfers and transmittals beginning or ending outside the United States.