Tag Archives: Tax

The Tax Man Is Back: IRS Issues First John Doe Summons in 2022 to Major Crypto Platform, Seeking Treasure Trove of Information on Tax Noncompliance

Photo of Carlos OrtizPhoto of Nicholas C. MowbrayPhoto of Christina GotsisPhoto of Kayley SullivanBy Carlos Ortiz, Nicholas C. Mowbray, Christina Gotsis and Kayley Sullivan on Posted in Cryptocurrency, Tax
After going for more than a year without using one of its most powerful weapons, a John Doe summons, the Internal Revenue Service (IRS) has reverted to the use of this tool in its much-publicized efforts to investigate, find, and prosecute those who fail to report virtual currency transactions and those who facilitate not reporting. … Continue Reading

Global Tax Enforcement Group Provides NFT Red Flag Guidance

Photo of Teresa Goody GuillénPhoto of Christina GotsisPhoto of Nicholas C. MowbrayPhoto of Betsy SmithPhoto of Carlos OrtizBy Teresa Goody Guillén, Christina Gotsis, Nicholas C. Mowbray, Betsy Smith and Carlos Ortiz on Posted in NFT
Answering the call for guidance regarding potential issues concerning the popular cryptocurrency assets NFTs, on April 28, the J5 issued a first-of-its-kind intelligence bulletin warning the public of the dangers of dealing with NFTs. Titled the “J5 NFT Marketplace Red Flag Indicators,” the bulletin provides real-world guidance to banks, law enforcement partners and private investigators … Continue Reading

Crypto, CBDC and Blockchain Supply Chain Initiatives Announced; More SEC and FinCEN Enforcement; Crypto Tax Amendment Fails; DeFi Hacked for $600M

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Teresa Goody GuillénPhoto of Nicholas C. MowbrayPhoto of Kayley SullivanBy Robert A. Musiala, Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén, Nicholas C. Mowbray and Kayley Sullivan on Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, Platforms, Securities & Exchange Commission, Tax
In this issue: • Crypto Firms Pursue Bank Charters, Traditional Financial Firms Integrate Crypto • CBDC and Blockchain Remittance Initiatives Launch Across Foreign Markets • Blockchain Supply Chain Initiatives Launch Across Various Industries • SEC Charges DeFi Company and Digital Asset Exchange Platform • FinCEN Settles Enforcement Action Against Major Cryptocurrency Exchange • Senate Passes … Continue Reading

NFT Initiatives Continue, Blockchain Tracing Solutions Expand, SEC Targets ICO, Crypto Enforcement Data Published, Regulators Across Globe Address Crypto

Photo of Veronica ReynoldsPhoto of Jordan R. SilversmithPhoto of Teresa Goody GuillénPhoto of Joanna F. WasickPhoto of Kayley SullivanBy Veronica Reynolds, Jordan R. Silversmith, Teresa Goody Guillén, Joanna F. Wasick and Kayley Sullivan on Posted in Blockchain, Cryptocurrency, NFTs, Securities & Exchange Commission
In this issue: • NFT Initiatives Continue, Cryptocurrency Advertising Restrictions Ease • Blockchain Traceability Solutions Expand in Food, Shipping and Jewelry Sectors • SEC Settles ICO Fraud, US Crypto Enforcement Reaches $2.5 Billion • Regulators in Canada, UK and Portugal Address Cryptocurrency Market • China Crypto Crackdown Continues, South Korea Seizes Tax Evader Crypto NFT … Continue Reading

Blockchain and Crypto Initiatives Launch in Foreign Markets, Guidance Issued on Ransomware and Crypto Derivatives, DOJ Indictment Alleges Crypto Tax Evasion

Photo of Robert A. MusialaPhoto of Teresa Goody GuillénPhoto of Jordan R. SilversmithBy Robert A. Musiala, Teresa Goody Guillén and Jordan R. Silversmith on Posted in Cryptocurrency, Ransomware
In this issue: • Crypto Initiatives Launched by Foreign Banks, Exchanges, Apps, Gaming Firms • New Guidance on Ransomware, Crypto Derivatives; Crypto Tax Report Published • DOJ Charges Allege Crypto Tax Evasion, Interpol Cites Crypto Privacy Threats Crypto Initiatives Launched by Foreign Banks, Exchanges, Apps, Gaming Firms By: Robert A. Musiala Jr. According to a … Continue Reading

Exchanges Going Live, Supply Chain Initiatives Advance, Threats Continue as Arrests Target ‘Shadow Banking’

Photo of Joanna F. WasickPhoto of Robert A. MusialaPhoto of Jordan R. SilversmithPhoto of Nicholas C. MowbrayBy Joanna F. Wasick, Robert A. Musiala, Jordan R. Silversmith and Nicholas C. Mowbray on Posted in Bitcoin, Blockchain, Cybersecurity, Tax
In this issue: • Cryptocurrency Exchanges Move Closer to Live Trading, New Stablecoins Announced • New Blockchain Initiatives Targeting Enterprise Use Announced • DoJ Arrests Operators of ‘Shadow Banking Services,’ Regulators Warn of Scams • Cyberattacks Target Cryptocurrencies, Threat Actors Employ Crypto Techniques • Tax Analysis: New Crypto Tax Tools Available, New Disclosure Category Added … Continue Reading

A Bid for a US Publicly Traded Crypto Exchange, Institutional Investments, International Regulatory and Enforcement Actions

Photo of Robert A. MusialaBy Emily R. Fedeles, Robert A. Musiala, Jonathan D. Blattmachr and Brian P. Bartish on Posted in Blockchain, Cryptocurrency, ICOs
In this issue: • 2018 Cryptocurrency Recap, Developments in Cryptocurrency Exchanges and Payment Providers • New Blockchain Capital Markets Platforms Announced With Institutional Investment • Are Crypto Regulations Getting Tighter or Looser? Depends About Where You’re Asking • The Curious Case of Cryptopia, and Updates on Threats and Enforcement Actions 2018 Cryptocurrency Recap, Developments in … Continue Reading

Blockchain Developments: Government and Transport Sector Solutions, Legislation, Payment Applications and Global Enforcement Actions

Photo of Joanna F. WasickBy Diana Stern, Simone O. Otenaike, Jonathan D. Blattmachr, Joanna F. Wasick, Marc Powers, Roger M. Brown and Heather K. P. Fincher on Posted in Enforcement, Enterprise, Global, Government, Tax
In this issue: • Blockchain Transport Applications, Public Sector Initiatives, Protocol and Market Developments • Capital Markets Initiatives Continue as US Congress Issues New Research and Two New Bills • Blockchain Payments Networks Evolve, New Cryptocurrency Exchange Lands in US • SEC Achieves Settlements, FATF Evaluates UK, Regulator Actions in Denmark and New Zealand • Tax Analysis: Securitized Tokens Backed … Continue Reading

Ohio Accepting Bitcoin for Taxes, Multiple SEC and Financial Crime Developments, New Blockchain Capital Markets and Enterprise Initiatives

Photo of Robert A. MusialaPhoto of Jordan R. SilversmithBy Roger M. Brown, Heather K. P. Fincher, John Busch, Robert A. Musiala, Diana Stern and Jordan R. Silversmith on Posted in Cryptocurrency, ICOs
In this issue: • Satisfying Tax and Other Liabilities With Cryptocurrency • New SEC ICO Enforcement and Developments on Unregistered Securities, Fraud, Promotions and the Howey Test • International Crypto Crime Developments, OFAC Lists Bitcoin Addresses, Cyberattacks and Fraud Schemes Uncovered • Cryptocurrencies Continue to Permeate Capital Markets as Blockchain Permeates Settlement Systems • Blockchain … Continue Reading
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