Congress to Raise Bank Secrecy Act Reporting Thresholds After 50 Years

TLDR The CTR threshold will rise from $10,000 to $30,000 under the new bill. SAR thresholds will increase from $2,000–$5,000 to $3,000–$10,000. Treasury must adjust BSA thresholds every five years for inflation. Crypto firms like Coinbase and Kraken must comply with BSA rules. For the first time in more than five decades, Congress is working […] The post Congress to Raise…