The Fifth Circuit Court of Appeals has reinstated a nationwide injunction against the Corporate Transparency Act (CTA), making its beneficial ownership information reporting requirements unenforceable. This decision follows a series of rulings that have created uncertainty around the law, which was designed to enhance anti-money laundering efforts. The U.S. Department of Justice (DOJ) has responded by appealing to the Supreme Court to lift the injunction, arguing that the compliance deadlines for the CTA should be enforced while the appeals process is ongoing. The Supreme Court has requested a response to the DOJ's emergency application by January 10, 2025, and it will also consider the broader issue of universal injunctions. Meanwhile, the status of beneficial ownership reporting remains in limbo, with the latest ruling rendering it voluntary once again.