Global Digital Finance hits out at US plans to lower Travel Rule threshold for finds transfers

Global Digital Finance (GDF), the cryptoassets and digital finance industry membership body, is warning that potential plans proposed by the US Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve to amend the Travel Rule threshold for funds transfer that begin or end outside the United States from $3,000 to $250, could negatively impact financial inclusion, increase compliance costs needlessly, and be counter-productive.

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