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Morning edition · November 9, 2026

US Regulators Walk Back Crypto Travel Rule and 401(k) Guidance

FinCEN, the Federal Reserve, and the Labor Department have retreated from planned or existing digital asset restrictions, easing compliance burdens for foreign transfers and retirement plan fiduciaries.

  1. 1

    FinCEN and Fed Withdraw Proposed Crypto Travel Rule Changes

    The Financial Crimes Enforcement Network and Federal Reserve Board jointly abandoned a proposed rule amending recordkeeping and reporting requirements for convertible virtual currencies [1]. The withdrawn measure would have lowered the dollar threshold for rep

  2. 2

    US Spot Bitcoin ETFs Suffer $1.28B Weekly Outflows

    US spot $BTC exchange-traded funds posted $1.28 billion in weekly net redemptions, marking the largest aggregate outflow since late June [4]. BlackRock's IBIT accounted for $1.21 billion of the losses, extending a six-day outflow streak that erased $1.44 billi

  3. 3

    Senator Blumenthal Sets Jan. 4 Deadline for Binance and Tether Records

    The incoming Senate investigations chair requested voluntary records productions by Jan. 4, 2027, targeting Binance, $USDT issuer Tether, World Liberty Financial, and Fight Fight Fight LLC [3]. Senator Blumenthal stated the subcommittee will consider subpoenas

  4. 4

    Labor Department Rescinds 2022 Crypto 401(k) Fiduciary Guidance

    The US Department of Labor repealed 2022 instructions that cautioned fiduciaries against including cryptocurrency in employer retirement plans [6]. Labor Secretary Lori Chavez-DeRemer said the agency will return to a neutral stance under the Employee Retiremen

  5. 5

    Buterin Says ETH Value Relies on Decentralization Over Fee Burns

    Ethereum co-founder Vitalik Buterin stated the network should not worry if $ETH fee burns stay below 10 percent of breakeven [2]. Relying entirely on fee burns to support a $270 billion market capitalization would severely cut validator revenue and require hea

Numbers

Bitcoin trades at $74,080, down 2.3% over the past 24 hours, while Ether fell 5.7% to $2,107, pushing total market capitalization down 1.5% to $2.47 trillion.

Watch

Whether FinCEN or the Federal Reserve initiates a fresh rulemaking cycle on cross-border crypto transfers. · The initial Nov. 30 document submission target for Binance and Tether, followed by the formal Jan. 4, 2027 cutoff.

Full text

The US government is unwinding crypto-focused regulations as FinCEN and the Federal Reserve withdraw travel rule changes and the Labor Department rescinds its 401(k) guidance. Meanwhile, spot Bitcoin ETFs logged heavy outflows amid a broader market drawdown.

  1. FinCEN and Fed Withdraw Proposed Crypto Travel Rule Changes: The Financial Crimes Enforcement Network and Federal Reserve Board jointly abandoned a proposed rule amending recordkeeping and reporting requirements for convertible virtual currencies. The withdrawn measure would have lowered the dollar threshold for reporting cross-border fund transfers.
  2. US Spot Bitcoin ETFs Suffer $1.28B Weekly Outflows: US spot BTC exchange-traded funds posted $1.28 billion in weekly net redemptions, marking the largest aggregate outflow since late June. BlackRock's IBIT accounted for $1.21 billion of the losses, extending a six-day outflow streak that erased $1.44 billion since Oct. 30.
  3. Senator Blumenthal Sets Jan. 4 Deadline for Binance and Tether Records: The incoming Senate investigations chair requested voluntary records productions by Jan. 4, 2027, targeting Binance, USDT issuer Tether, World Liberty Financial, and Fight Fight Fight LLC. Senator Blumenthal stated the subcommittee will consider subpoenas if compliance fails.
  4. Labor Department Rescinds 2022 Crypto 401(k) Fiduciary Guidance: The US Department of Labor repealed 2022 instructions that cautioned fiduciaries against including cryptocurrency in employer retirement plans. Labor Secretary Lori Chavez-DeRemer said the agency will return to a neutral stance under the Employee Retirement Income Security Act.
  5. Buterin Says ETH Value Relies on Decentralization Over Fee Burns: Ethereum co-founder Vitalik Buterin stated the network should not worry if ETH fee burns stay below 10 percent of breakeven. Relying entirely on fee burns to support a $270 billion market capitalization would severely cut validator revenue and require heavy governance intervention.

Numbers: Bitcoin trades at $74,080, down 2.3% over the past 24 hours, while Ether fell 5.7% to $2,107, pushing total market capitalization down 1.5% to $2.47 trillion.

Watch:

  • Whether FinCEN or the Federal Reserve initiates a fresh rulemaking cycle on cross-border crypto transfers.
  • The initial Nov. 30 document submission target for Binance and Tether, followed by the formal Jan. 4, 2027 cutoff.

Basis Desk Newsroom · AI-generated, source-verified. Built only from stories already verified and published on Basis Desk; market figures as of publication. Not financial advice.