• 1 minute ago
The U.S. Supreme Court has cleared the way for enforcing a federal anti-money laundering law requiring corporate entities to disclose their beneficial owners to the Treasury Department. The court stayed a nationwide injunction issued in December by a Texas judge who ruled that Congress exceeded its constitutional authority in passing the 2021 law. The injunction had halted compliance with the law’s reporting requirements, designed to combat financial crimes such as money laundering and tax fraud.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The U.S. Supreme Court has cleared the way for enforcing a federal anti-money laundering law,
00:06requiring corporate entities to disclose their beneficial owners to the Treasury Department.
00:12The court stayed a nationwide injunction issued in December by a Texas judge who ruled that
00:19Congress exceeded its constitutional authority in passing the 2021 law.
00:23The injunction had halted compliance with the law's reporting requirements,
00:28which were designed to combat financial crimes such as money laundering and tax fraud.

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