US Treasury and Fed Abandon Plan to Track Smaller Bitcoin, Crypto Transfers

The rule, first floated by FinCEN, would have expanded information collection on cross-border transactions involving bitcoin and other digital assets. The retreat follows industry pushback and reflects a broader reassessment of how crypto transfers are monitored for anti-money-laundering purposes. The decision eases compliance burdens for exchanges and wallet providers that would have had to capture and transmit customer data on far more transactions. It matters because reporting thresholds shape how much visibility regulators have into retail-sized crypto flows. Watch for whether FinCEN revisits the threshold in a future rulemaking or folds the issue into broader crypto reporting frameworks.