Crypto

Treasury and the Federal Reserve withdraw another 2020 financial surveillance proposal

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 06/11/2026, 18:30:23 UTC.

Briefings

In November 2026, the U.S. Treasury and Federal Reserve withdrew a 2020 proposal to lower the threshold for financial institutions to collect information on cryptocurrency transactions. Originally, the rule would have reduced the reporting threshold from $3,000 to $250 for international transfers, expanding surveillance beyond domestic transactions. Coin Center opposed the move, arguing it would subject ordinary users to warrantless surveillance without adequate privacy safeguards. The agencies now require any future similar proposals to undergo a new public comment period before proceeding.

Key points

• In October 2020, FinCEN and the Federal Reserve proposed lowering the financial transaction reporting threshold from $3,000 to $250 for international transfers.
• Coin Center opposed the proposal, warning that reducing the threshold would subject vastly more ordinary transactions to warrantless financial surveillance without considering individual privacy costs.

Context

Coin Center has opposed several cryptocurrency surveillance proposals, including the 2020 financial reporting rule and the 'unhosted wallet' rules. This withdrawal closes the books on multiple long-pending expansions of the Bank Secrecy Act's surveillance regime.

Limitations

The evidence is limited to a single article from November 2026. It does not provide data on the number of affected transactions, the specific costs to individuals, or the outcomes of the public comment period. The agencies' final decision on the withdrawal is not explicitly stated in the source.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 07/11/2026, 03:44:14 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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