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Ruder Ware

It’s Tricky! Tracking the CTA

Ruder Ware on

The Corporate Transparency Act (CTA) remains on hold due to a nationwide injunction granted by a federal District Court in Texas in Smith v. U.S. Department of the Treasury. However, given pending legal battles and...more

Troutman Pepper Locke

Congress Narrows in on Stablecoin Legislation: An Analysis of the STABLE and GENIUS Acts

Troutman Pepper Locke on

The payment stablecoin (PS) legislative endgame is near. There is a clear imperative from the White House to prioritize stablecoin legislation and preserve the U.S. dollar as the world’s reserve currency. Both chambers of...more

Bowditch & Dewey

Corporate Transparency Act – Potential Action by the Legislature

Bowditch & Dewey on

On Tuesday, January 28, 2025, while an injunction blocking enforcement of the CTA remains in effect, a bipartisan bill was introduced on the floor of the House of Representatives, HR 9278, titled the “Protect Small Business...more

Ballard Spahr LLP

FinCEN Expands CTA FAQs

Ballard Spahr LLP on

On November 16, the Financial Crimes Enforcement Network (“FinCEN”) issued – again –expanded FAQs pertaining to beneficial ownership information (“BOI”) reportable under the Corporate Transparency Act (“CTA”).  These expanded...more

Cadwalader, Wickersham & Taft LLP

Regulators Sharpen Focus on Anti-Money Laundering Expectations for Crypto Industry

Cadwalader, Wickersham & Taft LLP on

U.S. regulators are signaling heightened expectations for anti-money laundering compliance within the crypto industry. Although FinCEN issued guidance in 2013 interpreting virtual currency “administrators” and “exchanges” as...more

White & Case LLP

The House Passes Cannabis Banking Legislation: Implications for the Financial Services Industry

White & Case LLP on

On September 25, 2019, the US House of Representatives ("House") passed, by a vote of 321 to 103, the Secure and Fair Enforcement Banking Act ("SAFE Banking Act"), bipartisan legislation designed to secure and regulate...more

Foley Hoag LLP - White Collar Law &...

U.S. Senate Considering Update to Federal Anti-Money Laundering System

Foley Hoag LLP - White Collar Law &... on

A bipartisan group of Senators, with the support of the American Bankers Association, recently introduced bill S.2563, known as the ILLICIT Cash Act. The acronym “ILLICIT” stands for “Improving Laundering Laws and Increasing...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: As Interest in Blockchain Technology Grows, So Do Attempts at Guidance and Regulation

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In 2018, the number of blockchain-enabled projects increased sharply as established companies sought to apply distributed ledger technology to their existing business models and startups developed new and disruptive models...more

Ballard Spahr LLP

More on AML Reform: Artificial Intelligence, Beneficial Ownership and Real Estate

Ballard Spahr LLP on

Second Post in a Two-Part Series - In our first post in this series, we described how the U.S. Senate Committee on Banking, Housing, and Urban Affairs (the “Banking Committee”) met in open session late last week to conduct a...more

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