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Crypto Exchanges Cryptocurrency New Guidance

BakerHostetler

Weekly Blockchain Blog - June 2024 #2

BakerHostetler on

TradFi/DeFi Integrations Announced, Yield-Bearing Stablecoin Launches - According to reports, Robinhood, a major U.S. financial services company, has entered into an agreement to acquire Bitstamp, a global cryptocurrency...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - August 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

McDermott Will & Emery

IRS Guidance Declares That Taxpayers Must Include Staking Rewards in Gross Income

On July 31, 2023, the Internal Revenue Service (IRS) released Revenue Ruling 2023-14, which concludes that the fair market value of staking rewards received by a cash-method taxpayer is includible in the taxpayer’s gross...more

BakerHostetler

ETH Staking Data Published; USDC Transfer Protocol Launches; OFAC Adds Public Keys to SDN List; DOJ Targets Crypto Market...

BakerHostetler on

ETH Staking Data Published, USDC Cross-Chain Transfer Protocol Launches - New data reflects that the recent amount of staking withdrawals on Ethereum has been balanced by a roughly equal amount of deposits. According to...more

BakerHostetler

Crypto Products and DeFi Pilot Launch; Reports Address NFT Royalties, Ethereum PoS Efficiency; IRS, CFTC, Address Crypto; Exchange...

BakerHostetler on

New Crypto Products Launch; Singapore Completes DeFi Pilot with Major Banks - In a press release published this week, a major U.S. cross-border payments and money transfer company announced a new service in its existing...more

Cadwalader, Wickersham & Taft LLP

FDIC Makes Clear That It Does Not Insure Crypto Exchanges

Last week, the Federal Deposit Insurance Corporation (“FDIC”) was part of two releases clarifying that only insured banks and thrifts enjoy FDIC insurance, notwithstanding what some non-banks may say in their marketing...more

WilmerHale

OFAC Identifies Digital Currency Addresses in Sanctions Designations and Provides FAQs on Digital Currency Compliance

WilmerHale on

On November 28, the Treasury Department sanctioned two Iran-based individuals for exchanging bitcoin into Iranian rials on behalf of malicious cyber actors involved in the SamSam ransomware scheme. Notably, this action marks...more

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