Committee advances bill to impose fees on certain international money transfers The Finance Ways and Means Committee moved House Bill 2502 to calendar and rules after the sponsor described proposals to levy a $10 fee plus 2% on money transmitted abroad via money transmitters (excluding traditional banks); the measure passed committee 22–0 with three present non-voting.

Tennessee is set to impose new fees on international money transfers, potentially affecting millions of dollars sent abroad each year!

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Tennessee committee advances bill to charge fees on transfers sent abroad The House Commerce Committee voted 17–4 to send HB2502 to finance after the sponsor said the measure would impose a $10 per-transaction fee plus 2% on amounts over $500 for funds sent from Tennessee to foreign countries; financial institutions and government agencies were exempted in amendment.

Tennessee is set to impose a new fee on money transfers abroad, sparking debate over its impact on consumers and service members alike.

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Stablecoins Poised to Revolutionize Global Transfers: 99% Cost Cut, Instant Settlement The accounting firm KPMG indicates that settlement times, which currently span several days, could be reduced to mere seconds or minutes using

Stablecoins Poised to Revolutionize Global Transfers: 99% Cost Cut, Instant Settlement

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