
The Financial Crimes Enforcement Network (FinCEN) has appealed a Texas court injunction that blocks the nationwide enforcement of the Corporate Transparency Act (CTA) just four weeks ahead of a critical reporting deadline. The CTA requires small- and medium-sized businesses to file Beneficial Ownership Information Reports by January 1, 2025, or risk facing fines of up to $10,000 or two years in prison. Meanwhile, TikTok is facing potential restrictions in Canada, as the company has filed a challenge against a government order to dissolve its operations in the country. Additionally, TikTok may be banned in the U.S. by January 19, 2025, unless it successfully delays the implementation of a law that could enforce such a ban. The U.S. Justice Department has requested that a court reject TikTok's request to postpone the law's enforcement.
This FINCEN BOI requirement is incredibly stupid. The federal government can just go to each state and download the registration information of each corporation but instead of doing that they force 32 million businesses to spend time filing this paperwork. https://t.co/PWTc4YJ5vy
🇺🇸🇨🇳U.S. JUSTICE DEPARTMENT ASKS COURT TO REJECT BYTEDANCE, TIKTOK REQUEST TO DELAY LAW THAT COULD BAN APP BY JAN 19 - COURT FILING. #Bytedance #TikTok https://t.co/o5C1S7csXA
Will TikTok be banned in January? Here’s where things stand as deadline nears https://t.co/a99YzcZrOR



