The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced, on March 21, 2025, that it issued an interim final rule that removes the requirements for U.S. companies and U.S. persons to...more
3/28/2025
/ Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Disclosure Requirements ,
Filing Requirements ,
Final Rules ,
FinCEN ,
Foreign Entities ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
The enforcement of the Corporate Transparency Act (CTA) and related regulations, including the requirement that entities formed or registered in the United States file a Beneficial Ownership Information Report (BOIR), is back...more
Late on December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit reversed its own decision from earlier in the week, reinstating the nationwide preliminary injunction preventing the enforcement of the Corporate...more
1/6/2025
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reinstatement ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Time Extensions ,
Vacated
Earlier this month, we reported that the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction prohibiting the enforcement of the Corporate Transparency Act (CTA) and...more
12/24/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Time Extensions
On December 3, 2024, the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction enjoining the enforcement of the Corporate Transparency Act (“CTA”). This injunction prevents...more
12/6/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
Final Rules ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays
As we enter December, the deadline for existing non-exempt entities to comply with the Corporate Transparency Act (CTA) is fast approaching. Entities that were formed or registered to do business in the United States prior to...more
12/3/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Enforcement ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Penalties ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies
On May 22, 2024, with bi-partisan support, the U.S. House of Representatives passed H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (“FIT21”), becoming the first major cryptocurrency legislation to...more
7/12/2024
/ Blockchain ,
Broker-Dealer ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Disclosure Requirements ,
Investment Adviser ,
New Legislation ,
Popular ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC)
On August 29, 2023, the Department of the Treasury and the Internal Revenue Service (“IRS”) published proposed regulations that, if finalized, would require brokers (including digital asset trading platforms, digital asset...more
On July 22, 2020, the Office of the Comptroller of the Currency (“OCC”) published an Interpretive Letter (the “Letter”) declaring that national banks and federal savings associations (collectively, “national banks”) may...more
7/27/2020
/ Blockchain ,
Cryptoassets ,
Cryptocurrency ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
International Banks ,
OCC ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The coronavirus pandemic has no doubt caused many businesses – particularly smaller and mid-sized businesses, and those in industries more negatively affected – to take unprecedented action just to survive. For many...more
Similarities and distinctions are already being drawn between the impact on our economy of the 2008 sub-prime mortgage-induced financial crisis and today’s global pandemic of COVID-19. With the shutdown of non-essential...more
SEC Halts ICO After Finding that Tokens are Securities -
Remember in July of this year when the Securities and Exchange Commission (SEC) said in its Decentralized Autonomous Organization (DAO) Report that "U.S. federal...more