UPDATE: 🇺🇸 FinCEN and the Fed’s withdrawal of their plan to cut the tracking threshold for cross-border crypto transfers from $3,000 to $250 takes effect TOMORROW. Financial institutions however must still share customer and transaction details on covered transfers of $3,000 or more, as the threshold remains. The withdrawal comes after regulators received nearly 3,000 comments, with many raising privacy and compliance concerns. They also cited changes in crypto regulation, including the GENIUS Act. Any similar proposal would go back out for public comment.
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