The Treasury Department announced it will not enforce penalties under the Corporate Transparency Act against U.S. citizens or domestic companies, citing the burden on low-risk entities. This decision follows opposition from the Trump administration and ongoing legal challenges. The department plans to issue a rule narrowing the act’s scope to focus on foreign reporting companies. Proponents argue the act combats money laundering in the U.S., while opponents emphasize the regulatory burden.
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The US recently released Alexander Vinnik, a Russian national accused of masterminding a massive cryptocurrency money-laundering operation through the BTC-e exchange, as part of a prisoner exchange. This exchange, which freed American teacher Mark Fogel from Russian imprisonment, has sparked considerable controversy.
The release of Vinnik, who faces accusations of laundering billions of dollars for various illegal activities, is being met with criticism. Many feel the exchange is disproportionate, trading a significant cybercrime figure for a teacher caught with a relatively small amount of marijuana. This sentiment is heightened by the perceived lack of consistent punishment for cybercrimes, with Vinnik’s release potentially reinforcing impunity in this area.… Continue reading
John Q. Hosedrinker 
Matt Underwood