Likely it just means $10K per transaction like the regular bank 10K transaction reporting limit. Likely If you keep $9.999ing they'll know you're wilfully skirting and will fill suspicious activity report and gov'ment can freeze your funds and ask you to prove what you're doing is kosher. I heard that's how it works in tradfi.
Discussion
That is how it works in tradfi. You don’t even need to keep doing $9,999 transactions to get a suspicious activity report filed in tradfi. But if you’re doing p2p transactions there is no middle man to report on you. I’ll have to do some reading to understand the finer points of this regulation.
