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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrayscale CEO lays out next steps after 'huge victory' against SEC: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bobby Zagotta, U.S. CEO and Chief Commercial Officer at Bitstamp, explains what prompted the platform to halt ether staking in the United States.

Persons: explainers, Bobby Zagotta Organizations: SEC, CNBC Crypto, CNBC Locations: United States

State law would still apply if the case is moved to federal court. The federal officer removal law protects people from state prosecution for carrying out official federal duties. It says that if a person were carrying out duties placed on them by federal law, they cannot be prosecuted for committing a state crime. Legal experts said Jones could allow the case to proceed in federal court and address immunity at a later hearing. If he determines immunity did not apply to the accused actions, the jury trial would take place in federal court, with the broader jury pool.

Persons: Mark Meadows, Al Drago, Donald Trump, Trump's, Meadows, firebrand Marjorie Taylor Greene, Joe Biden, —, Jeffrey Clark, Trump, Eric Segall, Fani Willis, Willis, Georgia's, Alvin Hellerstein, Steve Jones, Josh Blackman, Jones, Tom Hals, Noeleen Walder, Amy Stevens, Stephen Coates Organizations: White, REUTERS, Fulton County Superior Court, Trump, Department of Justice, Republican, Northern District of, Georgia State College of Law, Miami . Fulton, Prosecutors, U.S, U.S . Constitution, Circuit, Appeals, District, South Texas College of Law, Thomson Locations: Washington , U.S, Fulton County, Meadows, Shafer, Northern District, Northern District of Georgia, New York, Washington, Miami ., Miami . Fulton County, Georgia, United States, U.S ., Manhattan's, Atlanta, Wilmington , Delaware

☆ How More Sanctions on Russian Diamonds Could Affect the Global Market
▼ + stars: | 2023-08-28 | by ( Elizabeth Paton | More About Elizabeth Paton | ) www.nytimes.com time to read: +2 min

Diamonds can change hands 20 to 30 times between mine and market, according to Hans Merket, a researcher with the International Peace Information Service, an independent research agency. “It will be important to find the right balance between ambition and realism,” he added, as it could take “years rather than months to get all noses in the right direction and reorganize this complex global supply chain.”Another headache? Russia is known for producing small diamonds that are mostly sold in very large quantities. The new G7 sanctions likely would cover only finished stones of one carat or larger, Mr. Brooks-Rubin said, although smaller gems may be included later. “But our industry is also very fragmented and global, with many in the trade who still won’t fall under its remit.”

Persons: Hans Merket, ”, Brooks, Rubin, Tiffany Stevens Organizations: International Peace Information Service Locations: Russia, New York City

Fulton County Sheriff's Acquire Licensing Rights Read moreATLANTA, Aug 28 (Reuters) - Lawyers for Donald Trump’s onetime chief of staff Mark Meadows are set to argue in court Monday that a federal judge should take over a Georgia criminal case alleging he and the former U.S. president conspired to subvert the 2020 election. Meadows is seeking to move his case to federal court, where he would face a larger and more politically diverse jury pool than in Fulton County, Georgia, the Atlanta-area Democratic stronghold where he was indicted. U.S. District Judge Steven Jones’ decision on the matter could have broad implications for Trump and his co-defendants, some of whom also have sought to move their cases to federal court. State law would still apply if the case is moved to federal court. Prosecutors say Meadows furthered the alleged scheme by arranging calls and meetings where Trump pressured election officials to change the vote count in his favor.

Persons: Mark Meadows, mugshot, Donald Trump, Donald Trump’s, Trump, Joe Biden, Meadows, Steven Jones ’, ”, Brad Raffensberger, Fani Willis, Jack Queen, Amy Stevens, Diane Craft Organizations: Sheriff's, U.S, Republican, Democratic, Atlanta -, Trump, White, Prosecutors, Biden, Georgia Republican, Fulton, Thomson Locations: Fulton, Atlanta , Georgia, U.S, ATLANTA, Georgia, Fulton County , Georgia, Atlanta, Fulton County

☆ Why do we say tall instead of small? How Starbucks created its own language for ordering coffee
▼ + stars: | 2023-08-27 | by ( Ellie Stevens | ) edition.cnn.com time to read: +5 min

When Starbucks was first founded in 1971, customers would walk in and ask for coffee beans: no modifications or refreshers. The shop featured a menu with the “Starbucks language” customers are familiar with today, including drinks such as espressos and lattes. Short and tall are other terms associated with the Italian coffee bar concept, used to describe the size of the drink. However, not everyone has embraced the Starbucks language. “I refuse to use Starbucks sizing.

Persons: Charles Lindsey, ” Lindsey, Howard Schultz, ”, Megan Adams, Schultz, Il Giornale, Giornale, Lindsey, “, Adams Organizations: New, New York CNN, Starbucks, University at Buffalo Locations: New York, Italy, United States, Iowa

It’s not too late to apply for financial aid or appeal the financial aid amount that was given. “It doesn’t mean that we run out of funding,” said Phil Asbury, Director of Financial Aid at Northwestern. With the financial aid office, students shouldn’t brag or boast about grades. Explain what has changed in your situationAt Emory University, “students can contact the Office of Financial Aid at any point” with what’s called “a special-circumstances appeal,” said John Leach, Associate Vice Provost for Enrollment and University Financial Aid. Inform the school’s financial aid office right away and in some cases, financial aid can increase, he said.

Persons: It’s, ”, Phil Asbury, “ Don’t, Lissett Bohannon, “ It’s, University of Chicago’s Youssef Hasweh, Hasweh, shouldn’t, what’s, John Leach, Leach, ” Leach, FAFSA, Vicki Vollweiler, Vollweiler, Miranda McCall, Duke, ” McCall, “ Organizations: CNN, Columbia University, University of Wisconsin, University of Colorado, Education Data Initiative, Northwestern University, Aid, Northwestern, University of Chicago’s, Federal Student Aid, Emory University, Financial, Enrollment, University Financial, College Financial, “ Locations: New York City, Madison, University of Colorado Boulder, United States, Illinois

Export control laws restrict companies from sharing sensitive information and technology with certain individuals from other countries. Rebecca Bernhard, a Minneapolis-based labor lawyer who represents companies, said employers subject to export control laws often ignore the ban on citizenship-based bias in the federal Immigration and Nationality Act (INA), exposing them to legal action. Out of more than 10,000 hires, SpaceX only hired one asylee during that period, according to the lawsuit. The DOJ did not directly cite its guidance in the SpaceX lawsuit, but used nearly identical language to describe the company's alleged violations. "Export control laws and regulations do not prohibit or restrict employers from hiring asylees and refugees; those laws treat asylees and refugees just like U.S. citizens," the department said.

Persons: Dado Ruvic, Elon Musk, Rebecca Bernhard, Bernhard, aslyees, Musk, asylees, Daniel Wiessner, Amy Stevens, Deepa Babington Organizations: SpaceX, Elon, REUTERS, Space Exploration Technologies, U.S . Department of Justice, DOJ, General Motors Co, Immigration, INA, Justice Department, Companies, Thomson Locations: Minneapolis, U.S, United States, Albany , New York

☆ Analysis: Trump allies' push to move Georgia subversion trial could mean delays
▼ + stars: | 2023-08-25 | by ( Tom Hals | Thomson Reuters | Tom Hals Is An Award-Winning Reporter With Years Of Experience Working In Asia | ) www.reuters.com time to read: +6 min

No defendants have entered a plea in the Georgia case. The federal officer removal law protects people from state prosecution for carrying out official federal duties. Legal experts said the accused acts in the Georgia case are more plausibly related to official duties than the hush money payments in the New York case. Legal experts said Jones could allow the case to proceed in federal court and address immunity at a later hearing. If he determines immunity did not apply to the accused actions, the jury trial would take place in federal court, with the broader jury pool.

Persons: Donald Trump, Ray Smith, Rudy Giuliani, Jenna Ellis, Sidney Powell, Cathy Latham, Trump's, Mark Meadows, Meadows, firebrand Marjorie Taylor Greene, Joe Biden, Jeffrey Clark, David Shafer, Trump, Eric Segall, Fani Willis, Willis, Georgia's, Alvin Hellerstein, Steve Jones, Josh Blackman, Jones, Tom Hals, Noeleen Walder, Amy Stevens, Stephen Coates Organizations: Trump, Georgia Republican, Fulton County Superior Court, of Justice, Republican, Northern District of, Georgia State College of Law, Miami . Fulton, Prosecutors, U.S, U.S . Constitution, Circuit, Appeals, District, South Texas College of Law, Thomson Locations: Georgia, Fulton County, Meadows, Shafer, Northern District, Northern District of Georgia, New York, Washington, Miami ., Miami . Fulton County, United States, U.S ., Manhattan's, Atlanta, Wilmington , Delaware

☆ The Atlantic Ocean is getting wider every year. Researchers have finally figured out why.
▼ + stars: | 2023-08-25 | by ( Aylin Woodward | Jenny Mcgrath | ) www.businessinsider.com time to read: +6 min

Tectonic plates under the Americas, Europe, and Africa are separating as the Atlantic Ocean grows wider. The tectonic plates undergirding the Americas are separating from those beneath Europe and Africa. Fragmented into tectonic plates, the Earth's crust fits together like a puzzle. Seafloor spreading, which occurs at divergent tectonic plates that are pulling apart like the MAR, is another. AdvertisementAdvertisementSolving a geological mysteryOne of the remote seismometers deployed by University of Southampton scientists in the Atlantic Ocean.

Persons: Joshua Stevens, Matthew Aguis, Agius, Catherine Rychert, Rychert Organizations: Service, NASA, University of Southampton, Roma Tre University, Ocean . University of Southampton Locations: Americas, Europe, Africa, Wall, Silicon, Sandwell, Iceland, Hawaii, Yellowstone

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The carve-out is designed to not upset a deal with Brussels for Microsoft to license content to rival cloud services. The CMA's block in April drew fury from the merging parties, with Microsoft saying that Britain was closed for business. It said on Tuesday that it had not felt any political pressure over its handling of the deal. The CMA will also avoid having to defend its original block in court, and Microsoft finally looks set to secure its deal.

Persons: Dado Ruvic, Ronan Scanlan, Arthur Cox, Gustaf Duhs, Scanlan, Antony O'Loughlin, Setfords, Tom Smith, there's, Smith, Kate Holton, Paul Sandle, Martin Coulter, Matthew Lewis Organizations: Microsoft, Activision, REUTERS, Markets Authority, U.S, Ubisoft Entertainment, European Union, U.S ., CMA, Reuters, Stevens & Bolton, Ubisoft, European, Geradin Partners, Big Tech, Thomson Locations: Britain, U.S, Brussels, Dublin, United States, European Union, China, London

☆ Mortgage rates aren't going down until next year, says Brown Harris Stevens CEO Bess Freedman
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMortgage rates aren't going down until next year, says Brown Harris Stevens CEO Bess FreedmanBess Freedman, Brown Harris Stevens CEO, joins 'Power Lunch' to discuss the real estate market, the rise of mortgage rates and the health of the housing market.

Persons: Brown Harris Stevens, Bess Freedman Bess Freedman

Frank Bruni: Stuart, I’ve done many of these political roundtables, but never one at a juncture this titanically and transcendently bizarre. The first Republican debate of the presidential election season is tonight, the party front-runner is absent, and he’s running, oh, infinity points ahead of his Republican rivals despite two impeachments, 91 felony counts and unquantifiable wretchedness. Stuart Stevens: If a candidate enters the debate with a strategy of taking out another candidate, it can change a trajectory. In the 2012 primary, Mitt Romney did this to Rick Perry in their first debate and again in a subsequent debate to Newt Gingrich. (I was the campaign strategist for that Romney campaign.)

Persons: Frank Bruni, Ann Coulter, Stuart Stevens, Stuart, I’ve, Donald Trump’s, Mitt Romney, Rick Perry, Newt Gingrich, Romney Organizations: Republican

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Aug 22 (Reuters) - U.S. President Joe Biden named former federal prosecutor and Chicago lawyer Ed Siskel as his top White House lawyer on Tuesday, saying the former White House deputy counsel would start his new post next month. Siskel served in the White House Counsel's office for nearly four years when Biden was vice president under former President Barack Obama, including as deputy counsel, the White House said in a statement. "For nearly four years in the White House when I was vice president, he helped the Counsel’s Office navigate complex challenges and advance the president’s agenda on behalf of the American people," Biden wrote. He previously was a federal prosecutor for the U.S. Attorney’s Office in the Northern District of Illinois and was a clerk for then-Justice John Stevens on the U.S. Supreme Court, the White House said. Siskel replaces Stuart Delery, who is stepping down after serving as White House counsel since July 2022.

Persons: Joe Biden, Kevin Lamarque, Ed Siskel, Siskel, Biden, Barack Obama, I, Biden’s, Hunter, Obama, Rahm Emanuel, John Stevens, Stuart Delery, Susan Heavey, Bernadette Baum Organizations: Lahaina Civic Center, REUTERS, Rights, White, . House Republicans, Chicago, Trump, U.S . Department of Justice, U.S, Attorney’s, Northern District of Illinois, Supreme, Thomson Locations: Lahaina, Maui, Hawaii, U.S, Chicago, Northern District

☆ Corporate America’s Chief Critic, Carl Icahn, Gets His Comeuppance
▼ + stars: | 2023-08-21 | by ( Maureen Farrell | More About Maureen Farrell | ) www.nytimes.com time to read: +1 min

He said Mr. Anderson did not call him before publishing the report, denying him the opportunity to present his side of things. Short sellers borrow stock held by big investors and sell it in the open market, betting that its price will fall. If they bet right, they can buy the borrowed shares back at the lower price, return them and pocket the difference. Mr. Icahn said he buys and holds stocks for years and makes changes from the inside. (As of July 31, he said, his investors would have an annualized return of 12.8 percent compared to 6.9 percent for the S&P 500).

Persons: Carl, ”, Mark Stevens, Icahn, Mr, Anderson, Nikola, ” Mr, “ I’m Organizations: Hindenburg Research, Adani

☆ Watch the last billion years of Earth's tectonic plate movement in just 40 seconds
▼ + stars: | 2023-08-21 | by ( Aylin Woodward | Jenny Mcgrath | ) www.businessinsider.com time to read: +5 min

In 2021, geologists animated a video that shows how Earth's tectonic plates moved over the last billion years. But in 2021 a group of geologists offered up an easily digestible peek at 1 billion years of plate tectonic motion. Building a better model of Earth's platesThe Earth's plates move in a variety of ways and can cause earthquakes, mountains, and canyons. The top layer — between 5 and 50 miles thick — is the crust, which is fragmented into tectonic plates that fit together. The jigsaw puzzle of Earth's continents hasn't stopped shifting, of course.

Persons: Sabin Zahirovic, Pangea, Joshua Stevens, Dietmar Müller Organizations: Service, University of Sydney, U.S . Geological Survey, Geologists, NASA Locations: Antarctica, U.S, Sandwell, Africa, Europe

☆ What mortgage rates over 7% mean for the housing market
▼ + stars: | 2023-08-20 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —An already miserably unaffordable housing market is getting more expensive. As mortgage rates top 7% — the highest they’ve been in 21 years according to Freddie Mac — home buyers face ballooning costs. “The fact that we are seeing rates at these highs is having an impact on the housing market,” Freedman said. “That’s bad news for mortgage rates which correspondingly may rise to 8%,” he said. “We thought mortgage rates would be much lower by now,” she said.

Persons: Freddie Mac, “, ”, Bess Freedman, Brown Harris Stevens, Freedman, ” Freedman, Buyers, ” Lawrence Yun, Yun, Jessica Lautz, we’d, Melissa Cohn, Cohn, “ Banks, ” Cohn Organizations: DC CNN, Federal, National Association of Realtors, NAR, “, Fed, William, Mortgage, ” Fed, Treasury Locations: Washington

☆ How conservatives use ‘verbal jiu-jitsu’ to turn liberals’ language against them
▼ + stars: | 2023-08-20 | by ( John Blake | ) edition.cnn.com time to read: +13 min

Recent years have brought numerous headlines about another liberal term that has been dismantled by the right. Some scientists believe climate change is a more accurate description of the environmental challenges facing the planet. Demonstrators march across the Brooklyn Bridge during a climate change protest in New York on March 3, 2023. Instead of acknowledging the science pointing toward a looming environmental disaster, one Republican pollster offered another phrase to mute the alarm: climate change. Two decades later, many liberal politicians and activists continue to use the phrase “climate change, the cognitive scientist George Lakoff noted.

Persons: “, ”, Joe Raedle, Lindsey Cormack, “ I’ve, ” Cormack, Cormack, Conservatives didn’t, Harry Harris, didn’t, Andrew Caballero, Reynolds, Robin DiAngelo, ” DiAngelo, Paulette Granberry Russell, it’s, ” “, who’s, there’s, It’s, Yuki Iwamura, pollster, Frank Luntz, Republican pollster, Luntz, George Lakoff, ” Lakoff, “ It’s, John F, Kennedy, ” John F, ’, ” Kennedy, Trump’s, won’t, – they’ll, Trump, John Blake Organizations: CNN, White House, Democrats, House, Republicans, Stevens Institute of Technology, Conservatives, Democratic, Republican, New York City, Getty, Diversity, Equity, National Association of Diversity Officers, Higher Education, Bloomberg, AFP, Capitol Locations: Milwaukee, New Jersey, New York, Virginia, AFP, Brooklyn, ”

☆ Auctioneer Who Helped Create Fake Basquiats Gets Probation
▼ + stars: | 2023-08-18 | by ( Matt Stevens | More About Matt Stevens | ) www.nytimes.com time to read: +1 min

The man, Michael Barzman, avoided jail time for his role, which he eventually admitted involved working with an associate to create between 20 and 30 fake pieces that were promoted for sale as if they were genuine Basquiats. The fake Basquiats were displayed last year at a highly touted exhibit at the Orlando Museum of Art, the F.B.I. A judge in United States District Court in Los Angeles sentenced Barzman to three years’ probation, 500 hours of community service and a fine of $500, a spokesman for the U.S. attorney’s office said. The fake Basquiats have roiled the Orlando Museum of Art, which promoted the exhibition heavily and staked its reputation on maintaining that they were genuine. raided the museum and seized the paintings in question.

Persons: Jean, Michel Basquiat, Michael Barzman, Barzman Organizations: Orlando Museum of Art, United, Court, U.S, The New York Times, FedEx Locations: Los Angeles, United States

☆ Danny Meyer closes two restaurants in a New York hotel that was converted into a migrant shelter
▼ + stars: | 2023-08-17 | by ( Ellie Stevens | ) edition.cnn.com time to read: +3 min

CNN —Prominent restaurateur and Shake Shack founder Danny Meyer announced he will be closing two New York City restaurants located in a hotel which has been repurposed as a shelter for the city’s growing migrant population. Meyer’s Union Square Hospitality Group said in a statement they “admire and respect Redbury’s decision,” and that Meyer has previously advocated for expedited work permits for asylum-seekers. The nationally known ones include Gramercy Tavern and Union Square Cafe. In March 2020, Meyer closed all of his 19 restaurants in New York. Currently, the Union Square Hospitality Group said the two restaurants it is closing are looking for a new location and for job placements for employees affected by the closures.

Persons: Danny Meyer, Eric Adams, “, Communications Fabien Levy, Meyer, USHG, ” USHG, Mayor Adams, ” Organizations: CNN, Shake Shack, New, Communications, Meyer’s, Square Hospitality, Gramercy Tavern, Square, NYSE, Square Hospitality Group Locations: New York City, Marta, York, New York

WASHINGTON, Aug 15 (Reuters) - Moderate Democrats in the U.S. House of Representatives have formed a working group on artificial intelligence aimed at tackling the issue of what restrictions, if any, should be put on the technology. The New Democrat Coalition announced the formation of the group on Tuesday, saying it would work with the Biden administration, companies and other lawmakers to develop "sensible, bipartisan policies to address this emerging technology." While artificial intelligence has been used for several years, it surged in popularity earlier this year with the rise of ChatGPT because of generative AI's ability to use data to create human-seeming prose. The group is to be headed by Representative Derek Kilmer, a Democrat from Washington state. In July, the White House announced that AI companies including OpenAI, Alphabet (GOOGL.O) and Meta Platforms (META.O) had made voluntary commitments to implement measures such as watermarking AI-generated content to help make the technology safer.

Persons: Biden, Derek Kilmer, Don Beyer of Virginia, Jeff Jackson, Sara Jacobs of, Susie Lee of, Haley Stevens, Chuck Schumer, Diane Bartz, Nick Macfie Organizations: Moderate Democrats, U.S . House, New Democrat Coalition, White House, Thomson Locations: U.S, Washington, North Carolina, Sara Jacobs of California, Susie Lee of Nevada, Michigan

The Orlando Museum of Art filed a lawsuit on Monday accusing its former director of seeking to profit from a scheme to show fake paintings that the museum had exhibited as newly discovered works by the celebrated artist Jean-Michel Basquiat, saying that the owners of the paintings had promised him “a significant cut of the proceeds” from their eventual sale. Lawyers for the museum say in the court papers that they are seeking an unspecified sum in damages for fraud, conspiracy, breach of fiduciary duty and breach of contract. “The story of how the paintings ended up on the walls of O.M.A. is a truth stranger than fiction,” said the lawsuit, which was filed in circuit court in Florida. spent hundreds of thousands of dollars — and unwittingly staked its reputation — on exhibiting the now-admittedly fake paintings.

Persons: Jean, Michel Basquiat, Aaron De Groft, Groft, ”, “ O.M.A Organizations: Orlando Museum of Art Locations: O.M.A, Florida

☆ Book Review: Middle Grade Mysteries Featuring Girl Detectives
▼ + stars: | 2023-08-11 | by ( Robin Stevens | ) www.nytimes.com time to read: +1 min

Childhood is a constant state of trying to unravel the mysteries of the world, while being thwarted at every turn. Beth Lincoln’s THE SWIFTS: A Dictionary of Scoundrels (Dutton, 352 pp., $17.99, ages 8 to 12), illustrated by Claire Powell, is deliciously, quirkily Gothic, like “Gormenghast” for children. Martha Brockenbrough’s TO CATCH A THIEF (Scholastic, 256 pp., $17.99, ages 8 to 12) is a slice of small-town coziness. And Johan Rundberg’s THE NIGHT RAVEN: The Moonwind Mysteries, Book 1 (Amazon Crossing Kids, 192 pp., $17.99, ages 10 and up), translated by A.A. Prime, is chilly Nordic noir. But they all share the same worldview: that children can and should act out, that what they care about matters.

Persons: you’re, Daisy Wells, Hazel Wong, sleuths, Beth Lincoln’s, Dutton, Claire Powell, ”, Martha Brockenbrough’s, Johan Rundberg’s, A.A Organizations: Scoundrels

☆ Taylor Swift’s Viral Era
▼ + stars: | 2023-08-11 | by ( Matt Stevens | ) www.nytimes.com time to read: +4 min

Taylor Swift, wearing a long green gown, takes a swan dive pose and jumps into a hole in the stage. A large crowd of Taylor Swift fans sing together in a parking lot outside of her concert. Taylor performs in a “full on deluge.”Rain pours down on a smiling Taylor Swift as she performs onstage. Taylor Swift, sitting at a piano, explains to concertgoers that it is malfunctioning and playing itself. The actor Taylor Lautner enters the stage with a backflip to greet Taylor Swift.

Persons: Taylor, Taylor Swift, Arlington , Texas Taylor, Joe Alwyn, “, ” Taylor, Matty Healy, Nashville Taylor, Matty, Philadelphia “, ” Taylor Swift, Taylor concertgoer Keith Urban, fanboying, Phoebe Bridgers, Bo Burnham, N.B.A, Taylor’s, Aaron Rodgers, she’s, Chicago Taylor, Minneapolis Taylor, John ”, John Mayer, ”, Cincinnati Taylor, Taylor Lautner, Denver Taylor, Seattle Taylor, “ Taylor, Taylor can’t, Travis Kelce, Mexico City Taylor Organizations: Ticketmaster, Philadelphia, Spice, Taylor, Independence, Swift, Federal Reserve, Seattle Locations: Glendale, Ariz, Arlington , Texas, Tampa, Fla, Tampa’s, East Rutherford, N.J, Chicago, Minneapolis, ” Kansas City, Mo, Philadelphia, Seattle, Inglewood, Calif, Mexico City

The long-awaited rule is expected to require that real estate professionals such as title insurers report the identities of the beneficial owners of companies buying real estate in cash to the Treasury's Financial Crimes Enforcement Network (FinCEN). Criminals have for decades anonymously hidden ill-gotten gains in real estate, Treasury Secretary Janet Yellen said in March, adding that as much as $2.3 billion was laundered through U.S. real estate between 2015 and 2020. That debate has slowed down FinCEN's work on the real estate reporting rule, one of the sources said. PATCHWORKWhile banks have long been required to understand the source of customer funds and report suspicious transactions, no such rules exist nationwide for the real estate industry. FinCEN implemented GTOs in 2016 after the New York Times revealed that nearly half of luxury real estate was bought by anonymous shell companies.

Persons: Janet Yellen, Erica Hanichak, FinCEN, Jodi Vittori, Guo Wengui, Guo, Donald Trump, Steve Bannon, Howard, David Szakonyi, Luc Cohen, Chris Prentice, Amy Stevens, Michelle Price, Matthew Lewis Organizations: U.S . Treasury Department, FACT Coalition, Association, New York Times, Carnegie Endowment, International Peace, Nardello, Government, Office, George Washington University, New, Thomson Locations: New York, Miami, Los Angeles, Chinese, Jersey, Manhattan

New York CNN —The catastrophic wildfires in Maui have destroyed homes, churches, businesses and key cultural sites on Hawaii’s second-largest island. Maui authorities have asked tourists to leave the island and strongly discouraged nonessential travel to Maui. That means $4 of every $5 the island generates comes directly or indirectly from tourism, according to the Maui Economic Development Board. In 2019, 3.1 million people visited Maui. But that figure plunged to 793,000 during the height of the pandemic in 2020, according to the Maui Economic Development Board.

Organizations: New, New York CNN, Hawaii Tourism, Maui Economic Development Board, Tourism, Hawaii . Local, Maui Economic Development, Hawaii Tourism Authority Locations: New York, Maui, United States, Japan, Canada, Oahu, Hawaii, Hawaii Tourism Authority, Hawaii ., Tourism, Lahaina

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