The GENIUS Act creates a comprehensive U.S. regulatory framework for payment stablecoins. The GENIUS Act also authorizes U.S. regulators to exercise jurisdiction over foreign stablecoin issuers. Federal agencies are directed...more
On March 14, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) in the Federal Register that will impose new obligations on many money services...more
3/20/2025
/ Anti-Money Laundering ,
Compliance ,
Federal Register ,
Financial Services Industry ,
FinCEN ,
Geographic Targeting Order ,
Money Services Business ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
Suspicious Activity Reports (SARs)
The saga of the CTA continues. Adopted in January 2021, the Corporate Transparency Act (CTA) is intended to assist in identifying beneficial ownership and control of entities operating in the United States in order to...more
1/28/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Business Entities ,
Constitutional Challenges ,
Corporate Counsel ,
Corporate Transparency Act ,
Enforcement ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
SCOTUS
On July 25, 2024, the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a joint statement describing potential...more
In 2023, the NYDFS is poised to finalize several significant new regulations and will likely continue its aggressive cybersecurity, anti-money laundering (AML) and consumer protection enforcement.
The New York Department of...more