On October 13, 2023, California Gov. Gavin Newsom signed two bills into law that will impose sweeping obligations on companies engaged in virtual currency activities in California and with California residents. Newsom vetoed...more
A new rule amending Alaska’s money transmission regulations expands the scope of money transmission activity subject to regulation to include virtual currency. As a result, effective January 1, 2023, companies engaged in...more
In August 2020, Louisiana adopted the Virtual Currency Businesses Act (VCBA) to regulate virtual currency activity in the state. In doing so, it joined New York as only the second US state to establish a stand-alone payments...more
While participating in the Federal Reserve Bank of San Francisco’s innovation office hours on August 13, Federal Reserve Governor Lael Brainard reported on the Federal Reserve’s ongoing research and experimentation related to...more
On October 9, 2019, the Internal Revenue Service (IRS) released Revenue Ruling 2019-24, which addresses the US federal income tax treatment of two unsettled areas of tax law regarding “hard forks” and “airdrops” of...more
On April 3, the SEC Division of Corporation Finance released a No Action Letter and a suggested framework for applying the investment contract analysis to tokens and digital assets....more
On March 27, 2018, Massachusetts' top securities regulator – the Massachusetts Securities Division (the Division) – propelled itself to the forefront of the ongoing debate about whether "initial coin offerings" (ICOs) should...more