1506-AB41 202104 Unified Agenda of Federal Regulatory and Deregulatory Actions 1506 Financial Crimes Enforcement Network FINCEN 1500 Department of the Treasury TREAS Clarification of the Requirement to Collect, Retain, and Transmit Information on Transactions Involving Convertible Virtual Currencies and Digital Assets With Legal Tender Status

The Board of Governors of the Federal Reserve System and FinCEN (collectively, the "Agencies") intend to finalize a proposed rule to clarify the meaning of "money" as used in the rules implementing the Bank Secrecy Act requiring financial institutions to collect, retain, and transmit information on certain funds transfers and transmittals of funds to ensure that the rules apply to domestic and cross-border transactions involving convertible virtual currency, which is a medium of exchange (such as cryptocurrency) that either has an equivalent value as currency, or acts as a substitute for currency, but lacks legal tender status. The Agencies further intend to finalize the proposal to clarify that these rules apply to domestic and cross-border transactions involving digital assets that have legal tender status.

]]> Other Significant Previously Published in The Unified Agenda Final Rule Stage No No 31 CFR 1010.410(e) 31 CFR 1010.410(f) 31 CFR 1020.410 12 U.S.C. 1829b 12 U.S.C. 1951 to 1959 31 U.S.C. 5311 to 5314 31 U.S.C. 5316 to 5336 No NPRM 10/27/2020 85 FR 68005 NPRM Comment Period End 11/27/2020 Final Action 09/00/2021 Yes Businesses None No No Yes Yes 1506-AB48 Related to FinCEN Regulatory Support Section 1506 Financial Crimes Enforcement Network FINCEN 800 767-2825 frc@fincen.gov P.O. Box 39, Vienna VA 22183