US Treasury, Fed withdraw $250 crypto Travel Rule proposal. What does it mean?
By Rony Roy
The US Treasury Department’s Financial Crimes Enforcement Network and the Federal Reserve have withdrawn a proposal to lower the reporting and recordkeeping threshold for cross-border transfers from $3,000 to $250, leaving existing requirements unchanged. According to a joint withdrawal notice…
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Explained in this story
Federal Reserve
The central bank of the United States, which sets US interest rates and supervises banks.
Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.
More about Federal ReserveCryptocurrency
A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.
Crypto prices are volatile, and governments are still deciding how to regulate it.
More about CryptocurrencyMore in Macro
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