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Federal Reserve Requires Banks to Provide Notice Regarding Crypto-Asset-Related Activities
Federal Reserve Requires Banks to Provide Notice Regarding Crypto-Asset-Related Activities The Federal Reserve Board (“FRB”) announced a significant shift requiring ... Read More
With Regulation on the Rise, Congressional Blockchain Caucus Steps Up to Test SEC’s Approach
Coming after the Biden Administration’s Executive Order on Digital Assets, the Congressional Blockchain Caucus has signaled it will watch new ... Read More
Digital Assets Executive Order Brings Regulation Closer Than Ever
President Biden issued a sweeping executive order in 2022 acknowledging the key role digital assets will play in the global ... Read More
Get to Know This Acronym for a Crypto Regulatory Alternative: DAOs
Governmental authorities are moving toward tighter regulation on cryptocurrency projects. Decentralized autonomous organizations (DAOs) present a potential alternative, with many ... Read More
Non-U.S. Crypto and Other Money Services Businesses: Have Customers in the U.S.? Beware of AML and Sanctions Compliance Risk
Two recent guilty pleas involving a cryptocurrency exchange serve as a reminder to all money services businesses (“MSBs”)—including those ostensibly ... Read More
Proof-of-Stake Rewards: Payment for Services or a Baked Cake?
Against the backdrop of rapidly evolving blockchain technology, the IRS has oftentimes been slow to update its related tax guidance, ... Read More
2022 Is the Year of Sweeping Changes for Cryptocurrency and Other Digital Asset Transfers
What to look out for in the proposed new Chapter 12 of the Uniform Commercial Code (UCC) The world of ... Read More
Cryptocurrency Transactions and Taxes: 5 Things to Know
The $1.2 trillion Infrastructure Investment and Jobs Act – also called the Bipartisan Infrastructure Law –garnered attention with its promise ... Read More
The Next Step: FinCEN Proposes to Require Reporting of Cryptocurrency Positions Held in Foreign Accounts
FinCEN recently took another important step toward bringing virtual currency into the financial assets reporting scheme. Taxpayers that have $10,000 ... Read More
“But if You Fall, You Fall Alone” – The SEC Goes After Ripple
Seven years after Ripple Labs, Inc. first began to sell its digital asset XRP, the Securities and Exchange Commission on ... Read More
Word on the Street Is That Virtual Currency Is the “New Gold,” and it’s Swiftly Moving Up the IRS Watchlist
The IRS has been increasingly active in its effort to ensure that virtual currency does not become a tool for ... Read More
CFTC: Virtual Currency Creates Real Segregation Risks
Virtual currency presents risks to futures commission merchants (FCMs) when deposited by futures customers or cleared swaps customers to margin ... Read More
