[FinCEN and the Federal Reserve Withdraw Proposed Adjustment to Cross-Border Transfer Reporting Rules, Existing $3,000 Threshold to Remain Temporarily] Odaily Planet Daily reports that Bitcoin News, in an article published on the X platform, stated that FinCEN and the Federal Reserve will withdraw a proposal put forward in 2020. This proposal aimed to lower the record-keeping and travel rule threshold under the Bank Secrecy Act from $3,000 to $250, applicable to fund transfers originating or terminating outside the United States, and explicitly covering convertible virtual currencies. The existing $3,000 threshold will remain temporarily. The two agencies stated that more than five years after proposing the plan, they hope to solicit public comment again before proceeding with similar adjustments. A related Federal Register announcement is scheduled for November 9th. Regulated entities will still be required to collect and transmit information on senders and recipients of eligible transfers of $3,000 or more.