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Allen Barron, Inc.

The Action Cryptocurrency Investors Need to Take Immediately

Allen Barron, Inc. on

What is the action cryptocurrency investors need to take immediately? What has changed, and why should any digital asset holder or investor pay attention to this game-changing development? Here is the short answer: If you...more

Allen Barron, Inc.

The IRS Digital Asset Broker Reporting Requirements

Allen Barron, Inc. on

The IRS digital asset broker reporting requirements were finalized earlier this year and impact all digital asset (i.e., cryptocurrency and Non-Fungible Tokens or NFTs) transactions beginning January 1, 2025. What do...more

BakerHostetler

First Circuit Adds Another Notch to the IRS’ Belt - Upholds Power To Summons Information from Virtual Currency Exchanges

BakerHostetler on

Anyone who thought blockchain would keep their cryptocurrency transactions private from the IRS needs to think again. According to the First Circuit’s recent holding, cryptocurrency users do not have a Fourth Amendment...more

Manatt, Phelps & Phillips, LLP

Ripple Labs Ordered to Pay $125 Million Civil Fine, Potentially Ending SEC Lawsuit

On August 7, 2024, Judge Analisa Torres of the U.S. District Court for the Southern District of New York issued a significant ruling in the long running legal battle between the U.S. Securities and Exchange Commission (SEC)...more

Troutman Pepper

SEC Approves Spot Ether ETFs

Troutman Pepper on

On July 22, 2024, the Securities and Exchange Commission (SEC) declared nine registration statements effective under the Securities Act of 1933 for spot Ether ETFs, clearing the way for the ETFs to begin trading on July 23....more

Cadwalader, Wickersham & Taft LLP

A New Age of PerFFFection June 2024 - Potential Impact of UCC Article 12 on Fund Finance Transactions

At the bottom of the stack in investment fund structures, there are generally “real” assets—things like equity interests in portfolio companies, mortgage loans, commercial receivables, maybe even bricks and mortar. Fund...more

Bradley Arant Boult Cummings LLP

Q&A with the Mississippi Securities Division: New Technology, New Rules and New Challenges

The Mississippi Securities Division is the closest regulator to the investing public of Mississippi.  Among other tasks, they protect investors from fraud and abuse and make sure those licensed securities professionals doing...more

Mayer Brown

SEC Approves Listings of Spot Ether ETFs: Waiting is the Hardest Part

Mayer Brown on

On May 23, 2024, the Staff of the Securities and Exchange Commission’s Division of Trading and Markets (the “SEC”) approved rule changes (so-called “19b-4 forms”) permitting the listing and trading of eight separate...more

Cozen O'Connor

New York AG Secures Record $2 Billion Settlement in Crypto Case

Cozen O'Connor on

New York AG Letitia James secured a $2 billion settlement with Genesis Global Capital, LLC, and related entities (collectively, “Genesis”), to resolve allegations that the bankrupt cryptocurrency firms defrauded investors,...more

Holland & Knight LLP

Not So Cryptic: IRS Increases Oversight on Cryptocurrency Income Tax Reporting Requirements

Holland & Knight LLP on

Cryptocurrency has revolutionized the financial markets but also created tax traps for the unwary investor. Building on proposed regulations issued last year, the IRS recently increased its oversight of cryptocurrency...more

BakerHostetler

Weekly Blockchain Blog - April 2024 #4

BakerHostetler on

Stablecoin, Wallet Products Launch; German Bank Launches Crypto Services - Circle, a global fintech firm and issuer of the USDC stablecoin, has announced new smart contract functionality to allow holders of BUIDL, a...more

Cadwalader, Wickersham & Taft LLP

It’s Raining Crypto Bots on the IRS

On August 29, 2023, the IRS issued proposed crypto reporting regulations (the “Proposed Regulations”), which we discussed in detail here. The Proposed Regulations build on the 2021 changes to the Internal Revenue Code that...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - February 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

Nelson Mullins Riley & Scarborough LLP

Emerging Issues in Crypto Bankruptcies

The new frontier of crypto bankruptcies brings with it unique challenges. As more crypto platforms face financial distress and insolvency, investors find themselves navigating the intricacies of the Bankruptcy Code in a...more

BCLP

At Long Last: What Crypto’s First Spot Etfs Mean for the Digital Asset Industry

BCLP on

After years of denials, the SEC has finally approved its first Bitcoin spot ETFs. Reaching this point has involved legal battles, repeated reviews of applications, and much more....more

Orrick, Herrington & Sutcliffe LLP

SEC charges DAO for unregistered sale of crypto smart yield bonds

On December 22, 2023, the SEC announced a settlement with a decentralized autonomous organization (DAO) and a second settlement with its founders. The SEC alleged that the DAO failed to register with the Commission for its...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - December 2023 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

Conyers

B2B, B2C, BVI – Crypto Disputes in the Caribbean

Conyers on

In the crypto world, does it really matter where you are? Is there a sunny offshore paradise perspective on the click of a button and a fintech trade? The answer lies as usual in how to unravel a problem should it arise. Both...more

Ankura

Understanding the Crypto Ripple Effect

Ankura on

On July 13, 2023, the Court ruled in partial favor of Ripple Labs Inc.’s argument that many of its XRP sales did not violate investor-protection laws. The ruling has sent the crypto world ablaze with speculation on the future...more

Foodman CPAs & Advisors

La Revisión De Riesgos De La FDIC 2023 Agrega El Cripto

El 14/08/23 se publicó la Revisión de Riesgos de la FDIC 2023. El informe “FDIC Risk Review 2023” resume las condiciones de la economía, los mercados financieros y la industria bancaria de los EE. UU. El informe proporciona...more

Foodman CPAs & Advisors

FDIC Risk Review 2023 Adds Crypto

On 8/14/23, the FDIC Risk Review 2023 was published. The FDIC Risk Review 2023 report summarizes conditions in the U.S. economy, financial markets, and banking industry. The report provides a comprehensive summary of key...more

A&O Shearman

DeFi protocol Uniswap and investors avoid suit for fraudulent activity on digital asset exchange

A&O Shearman on

On August 30, 2023, in a case of first impression, the U.S. District Court for the Southern District of New York dismissed in full a putative securities class action against Uniswap Labs, a decentralized finance (“DeFi”)...more

Foley & Lardner LLP

Blockchain Tech's Role as Driver of M&A Action Evolves

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The landscape of mergers and acquisitions is undergoing a seismic shift powered by the adoption of distributed ledger and other blockchain derivative technology across industries. Recent challenges in the cryptocurrency...more

Dechert LLP

SEC Brings First-Ever Enforcement Action Against Non-Fungible Cryptocurrency Tokens

Dechert LLP on

The Securities and Exchange Commission (“SEC”) issued a cease-and-desist order on August 28, 2023, charging Impact Theory, LLC (“Impact Theory”) with conducting an unregistered offering of crypto asset securities in violation...more

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