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No Further Warnings - Prosecutors Bring First Pure Legal Digital Asset Tax Indictment; More Criminal Cases to Come

After years of explicitly warning taxpayers that failing to report or underreporting income from transactions involving digital assets would lead to criminal charges, federal prosecutors are now beginning to follow through on...more

IRS Enforcement Efforts in Puerto Rico Gaining Steam - Wave of Cases Expected

Long-awaited enforcement actions may be coming soon for those who took advantage of the lucrative tax breaks offered by the Commonwealth of Puerto Rico without meeting the requirements. Prosecutions may also follow for...more

Crypto Products Launch, Gain Approvals; OFAC Sanctions Crypto Mixer; SEC Publishes ICO Consent Order; Report Cites Criminal Use of...

NY DFS Approves Crypto Platform, Prepaid Crypto Card to Launch in Argentina - According to a press release this week, the New York State Department of Financial Services (NY DFS) has authorized two subsidiaries of Zero...more

DOJ Targets Cryptocurrency Fraud

On October 6, 2021, the U.S. Department of Justice (“DOJ”) announced the creation of a National Cryptocurrency Enforcement Team (“NCET” or “Team”) to tackle investigations and prosecutions of criminal misuses of...more

New Stablecoin and CBDC Developments, Blockchain Enterprise Initiatives Announced, Crypto Financial Services Firm Targeted by...

US Stablecoin Issuers Publish New Details on US Dollar Reserves - This week, Circle, the issuer of USDC – a cryptocurrency “stablecoin” with each unit backed 1:1 by U.S. dollars – published its latest reserve attestation...more

USDC Expands to New Blockchains, NFT Sales Continue, FATF Publishes Review of Crypto Standards, US and Global Crypto Enforcement...

USDC Expands to 10 New Blockchains, Crypto Payment Initiatives Launch - The Centre Consortium recently announced that USDC, a stablecoin that is backed 1:1 by U.S. dollars, will soon be added to 10 additional blockchain...more

Biden Ups the Ante on Fighting Corruption — Directs the Department of Justice and Other Key Agencies to Engage in an Interagency...

On June 3, 2021, President Biden issued a national security memorandum, “Establishing the Fight Against Corruption as a Core National Security Interest.” The first national security memorandum of his presidency, it lays out...more

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