The FinCEN and the Federal Reserve withdrew on November 6 a proposal to lower from $3,000 to $250 the threshold triggering certain recordkeeping and information-transmission duties for transfers. The proposal, issued in October 2020, never took effect, while the existing US threshold of $3,000 remains applicable. Since December 30, 2024, the EU crypto-transfer regulation has required covered providers to collect sender and recipient information, with no general exemption for small amounts. As a result, an EU exchange can suspend access to assets received in a $500 transfer, request missing information, or reject or return the transfer before making the funds available to the customer.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
