# Federal Register #2026-22809

FinCEN and Federal Reserve Board Withdraw Proposed Funds-Transfer and Digital-Asset Rules

**Buyer:** Treasury - Financial Crime Enforcement Network - General Operations
**Posted:** November 09, 2026
**Identifier:** 2026-22809

FinCEN and the Federal Reserve Board are withdrawing a proposed financial-transaction reporting rule, so this notice does not announce a procurement or award.
- **Government agencies:** U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Board of Governors of the Federal Reserve System.
- **Proposed change:** Lower the threshold from $3,000 to $250 for collecting, retaining, and transmitting information about certain funds transfers and transmittals that begin or end outside the United States.
- **Digital assets:** Clarify that the rules cover domestic and cross-border transactions involving convertible virtual currency and certain digital assets with legal-tender status to a recipient.
- **Outcome:** The agencies will take no further action on the proposal, citing the need for additional public feedback and developments in the convertible virtual currency industry.
- **Procurement details:** No products, services, OEMs, vendors, quantities, or contract value are identified.

### Description

FinCEN and the Board of Governors of the Federal Reserve System are withdrawing their joint 2020 proposed rule concerning the Recordkeeping Rule and Travel Rule. The proposal would have lowered the threshold for collecting, retaining, and transmitting information on certain funds transfers that begin or end outside the United States from $3,000 to $250. It also proposed clarifying that the rules cover domestic and cross-border transactions involving convertible virtual currency and digital assets with legal tender status to a recipient. The agencies state they will take no further action on the proposal.

[View original listing](https://www.federalregister.gov/documents/2026/11/09/2026-22809/threshold-for-the-requirement-to-collect-retain-and-transmit-information-on-funds-transfers-and)