Supreme Court reinstates federal anti-money laundering law

Source: The Hill

The Supreme Court on Thursday agreed to reinstate a federal anti-money laundering law at the federal government’s request as a legal challenge proceeds in a lower court.

The court’s emergency stay halts, for now, a federal judge’s injunction that blocked the Corporate Transparency Act (CTA), which would require millions of business entities to disclose personal information about their owners.

Justice Ketanji Brown Jackson dissented.

The Biden-era Justice Department asked the high court late last month to intervene, and the court issued its ruling just three days after President Trump’s inauguration. Trump’s Justice Department did not withdraw the application, but during his first White House term, Trump had opposed the new law.

Read more: https://thehill.com/regulation/court-battles/5103064-supreme-court-reinstates-federal-anti-money-laundering-law/