Financial Crimes Enforcement Network Amends Bank Secrecy Act Regulations to Exempt Certain Currency Transactions

Summary

The Financial Crimes Enforcement Network has issued a final rule amending the Bank Secrecy Act regulations to exempt transactions in currency exceeding $10,000 between certain depository institutions and exempt persons, replacing an interim rule that was modified based on public comments.

Original source language: Federal Register — Department of the TreasuryOpen original release →

Add your company to Business Communicator

We monitor business sources and connect attention with companies, profiles and services available in Business Communicator.

Create a free company profile Explore businesses on Business Maps →

Create a free company profile →

Explore insights

Business insights →

Global Markets News Trade Regulation News Business Technology News Fintech for Business: Payments & Banking News Supply Chain News Central Bank Policy News

Related business signals

Finance & markets · 10/6/2026

FinCEN Withdraws Proposal for Reporting Requirements on Convertible Virtual Currency and Digital Assets

The Financial Crimes Enforcement Network (FinCEN) is withdrawing its proposal to require banks and money services businesses to report transactions involving convertible virtual currency and digital assets with legal tender status held in unhosted wallets or in wallets hosted in a jurisdiction identified by FinCEN.

Read summary →

Finance & markets · 10/5/2026

FinCEN Proposes Rule to Prohibit Funds Transmittals Involving A7 Network Sub-Agents

The Financial Crimes Enforcement Network (FinCEN) is issuing a finding and proposed rule to prohibit financial institutions from transmitting funds related to transactions involving the A7 Network, a Russian sanctions evasion and money laundering service, which has ties to Iran and other illicit actors.

Read summary →

Finance & markets · 10/6/2026

FinCEN Withdraws Proposal on Convertible Virtual Currency Mixing, Citing Section 311 of USA PATRIOT Act

The Financial Crimes Enforcement Network (FinCEN) has withdrawn its proposal to classify international Convertible Virtual Currency (CVC) mixing as a primary money laundering concern, following a review under the USA PATRIOT Act. The move reverses a proposed rulemaking that would have imposed enhanced recordkeeping and reporting requirements on this type of transaction.

Read summary →

Finance & markets · 10/6/2026

Treasury Issues Final Rule Exempting New System of Records from Privacy Act Provisions

The Department of the Treasury has issued a final rule exempting a new system of records from certain provisions of the Privacy Act, allowing it to collect and review tips on suspected waste, fraud, and abuse in federal programs.

Read summary →

Finance & markets · 10/9/2026

Cancellation of Hearing on Proposed Regulations Regarding Refunded Portion of Certain Federal Refundable Tax Credits

The Internal Revenue Service cancels a public hearing on proposed regulations (REG-119882-25) published in the Federal Register on August 20, 2026, regarding the application of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 to the refunded portion of certain federal refundable tax credits.

Read summary →

Finance & markets · 10/6/2026

Notice of OFAC Sanctions Action

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has published the names of individuals or entities on its Specially Designated Nationals and Blocked Persons List (SDN List) due to OFAC's determination that certain legal criteria were met. As a result, U.S. persons are prohibited from conducting transactions with these entities, and their property and interests in property subject to U.S. jurisdiction are blocked.

Read summary →