FinCEN Announces Withdrawal of Proposed Rule Related to Recordkeeping and Travel Rule Obligations

The Financial Crimes Enforcement Network (FinCEN) is withdrawing a notice of proposed rulemaking that would have amended the Recordkeeping and Travel Rule regarding convertible virtual currencies. It also would have lowered the threshold for funds transfers and transmittals of funds that begin or end outside the United States. This proposal is being jointly withdrawn with the Federal Reserve Board of Governors.

Resources

• Withdrawal of Proposed Rule Related to Recordkeeping and Travel Rule Obligations, Including Those Involving Convertible Virtual Currencies and Certain Digital Assets

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