FinCEN BOI Back on and other Digital Transactions News briefs from 12/26/24

The FinCEN Beneficial Ownership Information mandate is back in force with a recent court decision. That rule, part of the Corporate Transparency Act passed in 2024,had required businesses to file a Beneficial Ownership Information report by Jan. 1, which was delayed earlier in December but now makes these reports due Jan. 13. Businesses formed since Sept. 4 may have additional time, advisory firm Wolters Kluwer N.V. says.
U.S. retail sales, minus automotive, increased 3.8% year-over-year from Nov. 1 through Dec. 24, the Mastercard SpendingPulse said. Online retail sales increased 6.7% year-over-year and in-store sales were up 2.9% for the same period.
Russian companies are using Bitcoin and other cryptocurrencies for cross-border payments in the face of sanctions imposed on the country after its 2022 invasion of Ukraine, according to news reports. Bitcoin was trading at $95,000 early Thursday after briefly exceeding the $100,000 level days ago.

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