Crypto council for innovation stories

Nov 6, 2026

US Treasury withdraws $250 crypto travel rule surveillance proposal

The US Treasury's FinCEN and the Federal Reserve Board jointly rescinded a 2020 proposal that would have required financial institutions to collect information on cryptocurrency transfers worth $250 or more, leaving the existing $3,000 threshold in place.

Nov 6, 20263 sources

Aug 21, 2026

Blockchain Association and Crypto Council sue Illinois over digital asset tax

The Blockchain Association and Crypto Council for Innovation filed legal challenges against Illinois' new crypto tax, joining earlier lawsuits against the 0.2% levy on total asset value.

Aug 21, 20262 sources

Top claims

▪Prediction market pricing and market analysis indicated that removing additional regulatory surveillance on cryptocurrency exchanges reduced regulatory pressure on digital assets
▪The $3,000 transaction reporting threshold remains in place for qualifying cryptocurrency transfers under existing guidance from the Financial Crimes Enforcement Network
▪Crypto Council for Innovation CEO Ji Hun Kim stated that rescinding the Travel Rule proposal was the right decision, adding that lowering the threshold to $250 for cross-border transfers would have imposed an undue burden on institutions

Topics

Crypto regulation Crypto exchanges Crypto custody FinCEN wallet and mixer rule withdrawals Anti-money laundering (AML)Crypto privacy & surveillance Federal agencies Crypto taxation Crypto lobbying Illinois digital asset tax draft rules

Related entities

United States Board of Governors of the Federal Reserve System Bitcoin