US Regulators Scrap Proposed Crypto Travel Rule

The FinCEN and the Federal Reserve have formally withdrawn a 2020 proposal that aimed to lower the monitoring threshold for international wire transfers. The rule intended to drop the limit from 3,000 dollars to 250 dollars for financial transactions.

The original plan explicitly included virtual currencies in the requirements for collecting and retaining customer data. With the decision published in the federal register, the current 3,000 dollar limit remains in effect for financial institutions and companies in the sector.

The agencies received approximately 3,000 comments on the matter. Most participants argued that lowering the threshold would burden smaller institutions and could encourage consumers to use less regulated channels.

The government justified the retreat by citing the time elapsed and the need for new public debates. Furthermore, regulators acknowledged that the crypto asset market has matured and now features new legal frameworks, such as the stablecoin law from July 2025.

Any future changes to the rules will need to go through a new public comment period. Authorities stated that future standards must be adapted to the current reality of the global financial ecosystem.