FinCEN and Fed Withdraw 2020 Cross-Border Transfer Reporting Rule Changes

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On November 8, 2026, FinCEN and the Federal Reserve announced they would withdraw the 2020 proposal to revise cross-border transfer reporting rules, citing the need for public input. The $3,000 reporting threshold will remain unchanged. The original plan aimed to lower the Bank Secrecy Act’s currency transaction threshold to $250 for international transfers, including crypto assets. A Federal Register notice is scheduled for November 9. Regulators will continue enforcing sender and recipient data requirements for transfers of $3,000 or more, impacting liquidity and crypto markets.

ChainThink reports that on November 8, FinCEN and the Federal Reserve withdrew the proposed revision to the cross-border transfer reporting rule from 2020, and the current $3,000 threshold will remain in effect.

The original proposal intended to lower the recordkeeping and travel rule thresholds under the Bank Secrecy Act to $250, applying to fund transfers that begin or end outside the United States, and explicitly covering convertible virtual currencies.

The two agencies stated that, given that the proposal was introduced more than five years ago, they will reopen public comment before proceeding with similar adjustments, with a related Federal Register notice scheduled for publication on November 9.

Regulated entities must still collect and transmit information about the senders and recipients of compliant transfers of $3,000 or more.

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