Tag Archives: IRS

U.S. Bank Acquires Blockchain Infrastructure; SEC Approves Blockchain-Based Exchange; FTC Warns on Crypto Scams; NFT Threats, Crypto Hacks Reported

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Jordan R. SilversmithPhoto of Lauren BassPhoto of Joanna F. WasickPhoto of Keith R. MurphyBy Robert A. Musiala, Veronica Reynolds, Jordan R. Silversmith, Lauren Bass, Joanna F. Wasick and Keith R. Murphy on Posted in Blockchain, Cryptocurrency
In this issue: • U.S. Bank Seeks to Launch Stablecoin; New Crypto Payments Data Released • U.S. Bank Seeks to Launch Stablecoin; New Crypto Payments Data Released • FTC Warns of Crypto Scams, IRS Offers Staking Settlement; MAS Bans ATMs • Reports Address NFT Platform Exploits, Wash Trading and Money Laundering • SEC Scrutinizes Crypto … Continue Reading

Financial Firms Plan Decentralized Exchange, Launch Digital Bond; NFTs Launch in Sports, Fashion; Blockchain Tracing Solutions Launch; OCC Clarifies Crypto Guidance for Banks

Photo of Robert A. MusialaPhoto of Kayley SullivanPhoto of Keith R. MurphyPhoto of Lauren BassPhoto of Joanna F. WasickBy Robert A. Musiala, Kayley Sullivan, Keith R. Murphy, Lauren Bass and Joanna F. Wasick on Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, NFTs
• US and Swiss Financial Firms Announce Decentralized Exchange, Digital Bond • Sports and Fashion NFTs Launch; Food Delivery Service Adds Bitcoin Rewards • Blockchain Solutions Track Data for Carbon Footprints, Medical Supplies, Wine • OCC Letter Clarifies Crypto Guidance for Banks, IRS Reports Crypto Seizures US and Swiss Financial Firms Announce Decentralized Exchange, Digital … Continue Reading

Financial Firms Launch New Crypto Products, NFTs Trending, Crypto Exchange Acquires Broker-Dealer, SEC, DOJ, IRS and CFTC Actions Target Crypto Actors

Photo of Jordan R. SilversmithPhoto of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Keith R. MurphyPhoto of Robert A. MusialaBy Jordan R. Silversmith, Veronica Reynolds, Joanna F. Wasick, Keith R. Murphy and Robert A. Musiala on Posted in Bitcoin, Cryptocurrency
In this issue: • US Institutional Financial Firms, and Fintech Startups, Launch Crypto Products • Creative NFT Launches and Bitcoin Giveaways Continue To Trend • US Crypto Exchange Acquires Broker Dealer, SEC Action Targets Token Sales • US Enforcement Actions Target Cryptocurrency Darknet Activities and Fraud • DOJ and IRS Actions Target Crypto Tax Evaders, … Continue Reading

NFT Sales Launch, Fintech Firms Launch Crypto Initiatives, NY DFS Approves Crypto Firms, CFTC and IRS Target Crypto Crimes, DeFi Project Hacked

Photo of Veronica ReynoldsPhoto of Robert A. MusialaPhoto of Keith R. MurphyPhoto of Joanna F. WasickBy Veronica Reynolds, Robert A. Musiala, Keith R. Murphy and Joanna F. Wasick on Posted in Cryptocurrency
In this issue: • NFTs Make Headlines, Global Payments Firm Launches Cryptocurrency Unit • Cryptocurrency Payment Options Expand Across the Globe • Cryptocurrency Firms Achieve NY DFS Approvals, IRS Launches Crypto Initiative • CFTC Action Targets Crypto Market Manipulation, DeFi Hacked for $31 Million NFTs Make Headlines, Global Payments Firm Launches Cryptocurrency Unit By: Veronica … Continue Reading

DOJ and IRS May Soon Begin Enforcement Actions Against Virtual Currency Tax Fraudsters

Photo of John J. CarneyPhoto of Andrew SerraoPhoto of Robert A. MusialaPhoto of Jeffrey H. ParavanoPhoto of Nicholas C. MowbrayBy John J. Carney, Andrew Serrao, Robert A. Musiala, Jeffrey H. Paravano and Nicholas C. Mowbray on Posted in Tax
In the past several years, the use and prevalence of virtual currency have increased exponentially. The proliferation of digital assets has changed the way goods and services are exchanged and has allowed for faster and cheaper transactions. But with this new technology comes the increased risk of fraudulent activity – especially tax fraud. Recently, the … Continue Reading

Foreign Regulators Issue Approvals and Guidance, SEC Enforcement Continues, Blockchain Trade Groups File Amicus Briefs, Reports Detail Terrorist Financing Risks

Photo of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Teresa Goody GuillénBy Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén and Simone O. Otenaike on Posted in Blockchain, ICOs, Securities & Exchange Commission
In this issue: • New Approvals From European and Thai Regulators, Canada and WEF Publish Guidance • SEC Targets ICOs, IRS Updates Crypto FAQs, UK Tax Agency Seeks Blockchain Analytics Tool • Chamber of Digital Commerce and Blockchain Association Weigh In on SEC v. Telegram • Reports Address Cryptocurrency Terrorist Financing Risks New Approvals From … Continue Reading

Alert: IRS Issues New Guidance and FAQs on Virtual Currencies

Photo of Nicholas C. MowbrayPhoto of Robert A. MusialaPhoto of Betsy SmithPhoto of Brian DavisBy Nicholas C. Mowbray, Robert A. Musiala, Betsy Smith, Laura E. Jehl and Brian Davis on Posted in Cryptocurrency
On Oct. 9, the Internal Revenue Service (IRS) issued additional guidance regarding the taxation of cryptocurrency. The guidance comes more than five years after the IRS issued Notice 2014-21, the first and, until now, only official guidance regarding cryptocurrency. Revenue Ruling 2019-24 (the Revenue Ruling) reaffirms that virtual currency is treated as property and does … Continue Reading

Blockchain Applications for Enterprise and Payments Evolve, New Legislation Proposed, Mining Malware Surges and a Bitcoin Bug Is Fixed

Photo of Robert A. MusialaBy Robert A. Musiala, Jaime B. Petenko, Diana Stern, Heather K. P. Fincher and Brian P. Bartish on Posted in Blockchain, Cryptocurrency, ICOs
In this issue: • Blockchain Initiatives Pursue Solutions for Refugees, Voting, Smart Cities, Defense and Food Safety • Cryptocurrency Legal Developments: Tax, Proposed Legislation, AML and CFTC • Enforcement Actions Continue, Cryptomining Malware Surges, Token Values Fall • Blockchain Payments Products Advance, Investments Continue and a Bitcoin Bug Is Fixed Blockchain Initiatives Pursue Solutions for … Continue Reading
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