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The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.
July 09, 2024
The Treasury Department proposed a rule to add military installations across 30 states to its jurisdiction over transactions by foreign persons in the U.S., following President Joe Biden’s ban of a Chinese cryptocurrency mining facility within a mile of Francis E. Warren Air Force Base.
Details: The Treasury Department’s Committee on Foreign Investment in the United States proposed a rule that would expand CFIUS’s jurisdiction over some transactions by foreign persons involving real estate in the United States. The proposed rule would add more than 50 military installations.
Crypto Link: Biden in May issued an order prohibiting the purchase and requiring the divestment of certain real estate operated as a cryptocurrency mining facility by Chinese company MineOne that was located within one mile of F.E. Warren AFB.