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Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: December 5, 2024

The Polsinelli Blockchain+ team took a break from the usual Bi-Weekly updates for the Thanksgiving holiday, but the Web3 legal developments did not. There was a significant ruling out of the 5th Circuit, which has major...more

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: November 14, 2024

After a relatively quiet October for Web3 legal developments, November has kicked off with significant activity, primarily centered around ongoing lawsuits and regulatory enforcement actions. In addition to these legal...more

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: September 2024

In the last few weeks, decisions by regulatory agencies and courts overseeing cryptocurrency disputes have dominated the Web3 legal news. This can be expected to continue, even as Congress comes back from its August break, as...more

Blockchain+ Bi-Weekly: July 2024 #2

While the nation was preoccupied with the significant developments in the Presidential race, advocates and promoters of the blockchain ecosystem were particularly attentive to the news, given the perception that the current...more

Blockchain+ Bi-Weekly - February 2024

The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Blockchain+ Bi-Weekly - August 2023 #2

The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Updated Guidance from the FATF Regarding a Risk-Based Approach for Virtual Assets and Virtual Asset Service Providers

On October 28, 2021, The Financial Action Task Force (FATF), an inter-governmental body that sets international standards with an aim to prevent global money laundering and terrorist financing, released updated guidance...more

Securing the Weakest Link U.S. Government’s Cryptocurrency Tracing Capacity on Full Display in Civil Forfeiture Action

The U.S. Department of Justice (“DOJ”) filed a civil forfeiture complaint detailing two hacks of virtual currency exchanges by North Korean actors.  These actors stole millions of dollars’ worth of cryptocurrency or other...more

Show Me the Money … all the Money - ICO Issuer Required to Return $25 Million to Investors

The SEC recently required BitClave to return over $25 million to investors which the company raised by selling its Consumer Activity Tokens (CAT) to over 9,000 investors in an initial coin offering (ICO). BitClave was also...more

BitBlog Bi-Weekly Update - May 2020

With the world slowly coming out of the COVID-19 lock down and the economy hopefully on the path to recovery there have been many developments in the blockchain / crypto space over the last few weeks....more

An Ode to Joy- Congressional Research Service’s report on FinTech Innovation and Policy

On April 28, 2020, the Congressional Research Service (CRS) published an in depth report related to Fintech, titled Fintech: Overview of Innovative Financial Technology and Selected Policy Issues....more

BitBlog Bi-Weekly Update - April 2020

While the world at large shelters in place due to COVID-19 legal and regulatory activity of digital asset and the blockchain world is hopping. ...more

It’s the Fall That’s Gonna Kill You

Like Butch Cassidy and the Sundance Kid gloriously diving off a cliff, Telegram is about to take the fall and is trying to take the SEC with it.  However, Telegram and supporters are making a number of important arguments in...more

Hanging on the Telephone: Judge Enters Order Blocking Telegram ICO

Judge P. Kevin Castel of the Southern District of New York struck his gavel and hung up on Telegram’s contentious $1.7 billion initial coin offering (“ICO”).  Judge Castel ruled Telegram's planned distribution of Grams...more

BitBlog Bi-Weekly Update - February 2020

Many crypto entrepreneurs are seeking to build decentralized networks in which a token serves as a means of exchange on, or provides access to a function of the network.  In the course of building out the network, they need...more

BitBlog Weekly Update

This BitBlog summary focuses on the continuing actions by the U.S. Securities and Exchange Commission (“SEC”) against the issuers of noncompliant initial coin offerings (“ICOs”) and other crypto related transactions including...more

Stick a Fork in It? IRS Issues Updated Guidance on the Tax Treatment of Cryptocurrency Forks and Provides Answers to a List of...

Five years or so years ago, the Internal Revenue Service (“IRS”) provided its first, and until this week, only formal advice on the taxation of cryptocurrency transactions in Notice 2014-21. This guidance, while helpful in...more

BitBlog Weekly Summary

This week’s summary includes updates on anti-money laundering in the crypto-friendly nation of Malta and a proposal to regulate cryptocurrency miners in the United States to help stop human trafficking....more

BitBlog Weekly Summary: Digital Asset Regulations in New York State

This week saw two items of note in the regulation of digital assets and both came out of the state of New York. The Return of the Empire State - A New York State Supreme Court ruled that it has personal and subject...more

BitBlog Weekly Summary: Kik Kicks Back and the SEC continues its enforcement campaign against ICOs

Last week was a busy one for the SEC, and other crypto related litigation. That’s probably all we’re going to get while the battle between regulators and token issuers rages on, as Congress is not in session and many in the...more

Despite Big News and Some Regulatory Progress, Digital Assets Face Continued Skepticism and Legal Hurdles

As the summer continues to heat up so does the digital asset industry with two major developments. The Libra announcement last month represented a milestone in the cryptocurrency industry....more

Additional Guidance to be issued by the IRS on the Taxation of Crypto-Currency Transactions

Despite the growth of crypto-currencies in number and use, relatively little guidance has been provided by the Internal Revenue Service (IRS) to date related to the federal income taxation of such crypto transactions. ...more

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