The US Treasury Department and FinCEN abandoned the travel law, arguing that the rule is already outdated, does not correspond to modern realities and carries an additional burden on regulators. *The travel rule originally required any financial institution that processes crypto transactions over $3,000 to disclose the sender's name, address and account information. Perugo was later reduced to $250.

The US Treasury Department and FinCEN abandoned the travel law, arguing that the rule is already outdated, does not correspond to modern realities and carries an additional burden on regulators. *The travel rule originally required any financial institution that processes crypto transactions over $3,000 to disclose the sender's name, address and account information. Perugo was later reduced to $250.