Crypto preferred to gold…..?
Might need a bigger boat
As pressure builds on the U.S. Treasury Department to deliver its landmark reform to fight dirty money, lawmakers and advocates warn that the rules surrounding the law don’t reflect its intent and could render it ineffective.
Fresh concerns were aired during a House of Representatives committee hearing on Tuesday, which focused on troubleshooting reporting obligations for the long-awaited beneficial ownership database mandated by the Corporate Transparency Act. Rep. Blaine Luetkemeyer, a Republican from Missouri, said industry representatives should consider legal action if the Financial Crimes Enforcement Network begins overstepping their mandate while implementing the law.