News & Analysis as of

Cryptocurrency Fraud Internal Revenue Service

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - June 2024 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates the stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

BakerHostetler

Weekly Blockchain Blog - April 2024 #5

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Hong Kong Approves Crypto ETFs; Crypto Security, Payments Products Launch - According to recent reports, the Hong Kong Securities and Futures Trading Commission has conditionally approved the launch of the first spot...more

ArentFox Schiff

Investigations Newsletter: Deputy Attorney General Monaco Warns Industries: “Fraud Using AI is Still Fraud”

ArentFox Schiff on

On March 7, Deputy Attorney General Lisa Monaco delivered the keynote remarks at the American Bar Association’s (ABA) 39th National Institute on White Collar Crime. She noted that artificial intelligence (AI) “holds great...more

ArentFox Schiff

Investigations Newsletter: Binance to Pay Historic $4 Billion Fine

ArentFox Schiff on

Binance to Pay Historic $4 Billion Fine - Binance Holdings Limited, the operator of the world’s largest cryptocurrency exchange, agreed to pay $4.3 billion to resolve allegations that it violated the Bank Secrecy Act (BSA)...more

ASKramer Law

Digital Asset Theft Loss Deductions are More Complicated Than You Think

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Taxpayers can take a tax deduction with respect to “theft” losses that result from an illegal “taking of property” done with criminal intent. Among various other types of criminal activities, fraud is treated as theft under...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - August 2023 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

BakerHostetler

NFT Used for Service of Process; Blockchain CO2 Monitoring Solution Launches; IRS Addresses Staking; SEC Enforcement Continues;...

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Federal District Court Enters Default Judgment Based on NFT Service of Process - A federal district court judge in Florida entered a $2.2 million default judgment against a defendant on whom the judge previously authorized...more

BakerHostetler

Fintech Firms Pursue DeFi, CBDC Initiatives; Blockchain Integrations Announced; IRS Trains Ukraine on Crypto; FATF Voices Crypto...

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Product Integrations and Data Indicate Increased Interest in DeFi - MetaMask, a web3 Ethereum Network cryptocurrency wallet, recently announced a new integration with a major U.S. payments and fintech firm....more

BakerHostetler

DOJ Seizes Over $3 Billion in Historic Crypto Dark Web Fraud Case

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On November 7, 2022, the U.S. Department of Justice (DOJ) announced that it had seized more than $3.36 billion worth of bitcoin as part of a continuing investigation into a 10-year fraud involving the Silk Road dark web...more

BakerHostetler

Crypto and NFT Firms Make Announcements; Treasury Interprets Crypto Reports; Crypto Enforcement Actions by CFTC, SEC, IRS, DOJ and...

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Exchange Reaches Agreement to Sell Assets; New Crypto Products Launch - In a press release this week, Voyager Digital, a cryptocurrency exchange that recently filed for Chapter 11 bankruptcy, announced that it selected the...more

Goodwin

Central District of California Authorizes Service of John Doe Summons on Cryptocurrency Dealer

Goodwin on

​​​​​​​On August 15, 2022, the United States District Court for the Central District of California authorized the IRS to serve a “John Doe” summons on Ox Labs Inc., a cryptocurrency prime dealer doing business as SFOX. ...more

BakerHostetler

Top 5 Digital Asset Litigation and Investigation Trends of 2022

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Cryptocurrency and digital assets have kept the courts and regulators busy as digital assets continue to pose new questions and challenges for anyone involved in their sale, trade or development. The following trends have...more

Foley Hoag LLP - White Collar Law &...

Criminal Tax Violations: 2022 Enforcement Trends

This is the third post in this year’s series examining important trends in white collar law and investigations. Our previous post discussed trends in anti-corruption. Up next: State AG enforcement trends. Tax season is...more

BakerHostetler

Crypto Exchanges Launch Initiatives, NFT Hype Continues, Token Safe Harbor Proposal Updated, Digital Euro Study Published, Hacked...

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Cryptocurrency Exchanges Forge New Paths, Bitcoin ETF Applications Continue - This week one of the largest U.S. cryptocurrency exchanges, Coinbase, completed its initial public offering through a direct listing of its shares...more

BakerHostetler

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

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US Institutional Financial Firms, and Fintech Startups, Launch Crypto Products - A major U.S. financial services corporation announced this week that it would begin to settle transactions over the Ethereum Network in USD Coin...more

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