Insanity. Treasury is going to require currency reports for $200+ (as compared to current $10K+) for a bunch of zip codes in CA and TX (but seemingly not AZ or NM). www.cato.org/blog/trump-t... www.fincen.gov/news/news-re... - ThreadSky

emptywheel.bsky.social • 41 days ago

Insanity. Treasury is going to require currency reports for $200+ (as compared to current $10K+) for a bunch of zip codes in CA and TX (but seemingly not AZ or NM).

https://www.cato.org/blog/trump-treasury-expands-financial-surveillance

https://www.fincen.gov/news/news-releases/fincen-issues-southwest-border-geographic-targeting-order

Comments

paresisting.bsky.social•41 days ago

This is nothing but revenge

gavinicus.bsky.social•41 days ago

Cato has been surprisingly (to me) aggressive in its pushback against President Krasnov and Grand Vizier Musk. I despise libertarianism but at least it’s an ethos, and Cato is staying true to it.

yesak.bsky.social•40 days ago

This is the small government party, right?? Very interesting…

ranchoapocalypto.bsky.social•41 days ago

Whatever zip codes they target/expand surveillance to? A $200 threshold is pretext to flag anyone's payment for rent, utilities, groceries, car insurance as "terrorism" in order to freeze the accounts & seize assets. Also: is it any single $200 transaction? A total of $200 in transactions per month?

mojorising911.bsky.social•40 days ago

That would be any and all transactions OVER 200$

henryfung.bsky.social•40 days ago

Only for money service businesses that undocumented and poor people use. Not banks.

mojorising911.bsky.social•40 days ago

Thanks!😁

zen1924.bsky.social•40 days ago

And no staff to address these

billseipel.bsky.social•41 days ago

This is the MO now: instate a bad policy, watch it fail, then use that as fodder to try to get the dept canceled. Once canceled (if at all)
This let's them then transfer large sums without being flagged.

mojorising911.bsky.social•40 days ago

he thinks because he's a criminal and tax cheat we all are
Fuck him

jon639.bsky.social•40 days ago

The est. no. of transaction reports generated per year under the $200 rule would be ~78 million reports in the affected ZIP codes. This est. assumes an avg. of 1.5 reportable transactions per person per week across 1 mill. people in the designated areas. 👉Musks grokAI comes into play.

lorask.bsky.social•41 days ago

$200? LOL OK, that is going to really be a lot of reports.

1836republic.bsky.social•40 days ago

My guess is that AI will be used to sift through the massive data.

If I understand what they are doing this will not include crypto since it is banks will be interesting to see how much $$$ shifts to crypto?

lorask.bsky.social•40 days ago

Neato, regulation by AI!!! Hope Trump Voters are HAPPY now!

fairlycleanwindows.bsky.social•41 days ago

Even assuming this can be automated so that some system transmits a notification to some other system - who will review that many results? I suspect this may just be a way for government to be notified any time you do anything with your money.

deprongmori.bsky.social•40 days ago

I’m guessing this is to eliminate the ability of undocumented workers from being able to wire money home.

vovegan.bsky.social•41 days ago

Yet another reason President Musk sent his incels to find all of our bank accounts.

incognitoastronaut.bsky.social•41 days ago

Next they will ban cash.

ranchoapocalypto.bsky.social•41 days ago

Stands to reason - practically every adult member of the extended trump family is already pushing their own flavor of crypto.

pnwpirate.bsky.social•40 days ago

Wait!?! Two-hundred dollars?

codykinski.bsky.social•41 days ago

This is exactly why I don't use cash anymore. All my assets are in a shed full of returnable soda cans.

lorask.bsky.social•41 days ago

This is not just cash, this is even transferring $200 from one bank to another.

henryfung.bsky.social•40 days ago

This is incorrect. Read the second link.

lorask.bsky.social•40 days ago

Do wire transfers trigger CTR?
This includes wire transfers over $10,000, which are subject to reporting under the Currency and Foreign Transactions Reporting Act (31 U.S.C. 5311 et seq.). Financial institutions must file a Currency Transaction Report (CTR) for any transaction over $10,000.

lorask.bsky.social•40 days ago

(P.S. I work at a bank)

henryfung.bsky.social•40 days ago

Per the GTO, it only applies to money services businesses, banks are specifically not MSBs. But wires to other countries like Western Union or Moneygram would require the KYC treatment which they currently don’t. https://www.federalregister.gov/documents/2025/03/14/2025-04099/issuance-of-a-geographic-targeting-order-imposing-additional-recordkeeping-and-reporting

henryfung.bsky.social•40 days ago

henryfung.bsky.social•40 days ago

It applies specifically to money services businesses that serve poor people and undocumented people without US ID. 90% of people won’t notice any difference, but the 10% are going to get hassled enough to try to get them to self deport or move elsewhere.

butterisbetter1.bsky.social•41 days ago

https://www.youtube.com/watch?v=L2R09ZlpgmQ

1greenmantle.bsky.social•41 days ago

I spy with my little eye,
Something that will be monitored by AI .
TRumpmusk .com declares you illegal
Takes your money to do more evil .

( I am available for gigs ,dances and concerts etc just for expenses ....oh and I live in France )

brutice79.bsky.social•41 days ago

So are parents who transfer money to their kids going to be under investigation because I swear that is half of my transactions now

henryfung.bsky.social•40 days ago

No, unless you are using Western Union or Moneygram to transfer the funds.

fcracoalitionep.bsky.social•41 days ago

Please tweet on Xitter, Facebook and Truth Social the following article:

https://www.nytimes.com/2025/03/14/business/sp-500-stock-market-trump.html?smtyp=cur&smid=bsky-nytimes

olivercorlett.bsky.social•41 days ago

If these cartels are only moving $200 at a time, I think they should think about getting into a more lucrative business

eyelyon.bsky.social•41 days ago

It’s a whole of government approach to identify poor people who cash checks at MSBs in areas likely to have large populations of immigrants. For deportation.

olivercorlett.bsky.social•41 days ago

Of course, that must be it. The poor victims will figure out a way around it, but that way will cost them money they can ill afford and some "entrepreneurs" will profit at their expense. The American dream.

tompaine1776.bsky.social•41 days ago

beanunity.bsky.social•41 days ago

This is next with Project 2025, eliminate the FDIC.

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