Senate Approves STREAMLINE Act Raising Reporting Thresholds

The STREAMLINE Act, led by Senator Tim Scott, passed the US Senate to modernize the 1970 Bank Secrecy Act. It raises the currency transaction report (CTR) threshold from $10,000 to $30,000 and adjusts suspicious activity report (SAR) limits from $2,000–$5,000 to $3,000–$10,000. The bill also mandates Treasury reviews every five years to account for inflation. Under the STREAMLINE Act, banks, credit unions and cryptocurrency platforms will benefit from reduced AML compliance burdens. Major exchanges such as Coinbase and Kraken, along with projects like Ripple and Chainlink, have backed equal regulatory treatment. The proposal now moves to the House, though a possible government shutdown could delay a vote. Traders should watch for shifts in reporting requirements and compliance costs that may affect transaction flows and operational overhead in crypto markets.