The U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act or GENIUS Act (S.1582) (the Act) in a 68-30 bipartisan vote on June 17, 2025. The GENIUS Act would provide a clear regulatory...more
6/27/2025
/ Banking Sector ,
Banks ,
Cryptocurrency ,
Digital Assets ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
New Legislation ,
OCC ,
Regulatory Reform ,
Regulatory Requirements ,
Stablecoins ,
U.S. Treasury
The Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies recently published the long-awaited notice of proposed rulemaking for the anti-money laundering/countering the financing of terrorism...more
8/23/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Compliance ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
Money Laundering ,
Popular ,
Risk Assessment ,
Risk Management
Key portions of the Corporate Transparency Act (CTA) will take effect on January 1, 2024, requiring an estimated 30 million “reporting companies” to disclose to the federal government information and documentation about the...more
12/11/2023
/ Beneficial Owner ,
Business Entities ,
Corporate Governance ,
Corporate Transparency Act ,
Doing Business ,
Filing Deadlines ,
Financial Regulatory Reform ,
FinCEN ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements
Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require most entities formed or registered to do business in the United States to disclose detailed information regarding their owners, officers, and...more
12/5/2023
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Business Ownership ,
Civil Monetary Penalty ,
Compliance ,
Corporate Governance ,
Corporate Transparency Act ,
Exemptions ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
Recordkeeping Requirements ,
Regulatory Requirements ,
Reporting Requirements
Financial technology firms and certain banks and bank holding companies can expect to face increased scrutiny as the Board of Governors of the Federal Reserve System takes another step to stem risks related to crypto-assets,...more