Powering Sustainable Crypto: A General Counsel’s View
Exploring the AI and Crypto Intersection
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more
In this episode of the CryptoCounsel, Josh talks with Andrey Krahmal, the Head of Legal at Peak Mining, for a deep dive into Bitcoin mining. Andrey shares insights into how Peak Mining is pioneering the industry with...more
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
Cryptocurrency mining is an emerging industry that must overcome the watchful eyes of communities and regulators. This unique process uses computers to solve complex math problems on a blockchain, which rewards miners with...more
Nach einjährigem Ringen hat das Bundesministerium der Finanzen (BMF) nun endlich Ausführungen dazu veröffentlicht, wie virtuelle Währungen (z. B. Bitcoin, Ether, Litecoin und Co.) und sonstige Tokens (nachfolgend:...more
The SEC recently doubled the size of its Crypto Assets and Cyber Unit. Since its inception in 2017, the SEC’s Crypto Assets and Cyber Unit has launched more than 80 investigations resulting in over $2 billion in monetary...more
On April 26, 2022, the New York Assembly passed a bill that would place a two-year moratorium on certain cryptocurrency mining operations that use proof-of-work authentication (POW) methods to validate blockchain transactions...more
A couple rejected a refund settlement offer from the IRS over its tax treatment of tokens they earned from mining. Instead, the couple has sought formal adjudication on the issue from the federal courts. The government has...more
Although only 16% of Americans have personally invested in or exchanged cryptocurrencies, the ever-increasing use of this virtual currency in the U.S. will have very real ramifications for virtually all Americans. Arguably,...more
On February 3, the Proof of Stake Alliance (“POSA”), a cryptocurrency industry association, issued a press release regarding recent developments in a cryptocurrency tax case, in which the IRS approved the tax refund sought by...more
Crypto Mining and Retirement Accounts - Crypto mining has been extremely profitable over the last few years, with Bitcoin miners making an estimated $15 billion of revenue and several mining companies going public in 2021....more
Amid the crypto boom, mining has become an extremely lucrative venture for many and critical to maintaining decentralized cryptocurrency networks. It is no surprise then that mining has been subject to IRS scrutiny and...more
Although app platforms guard against fake apps, criminals are working hard to get around app platform rules to scam victims out of a cryptobuck. Apple and Google throw apps off their platforms if they don’t play by the rules,...more
Crypto currency continues to be debated - some believe in it; others do not. The decision by the founder of Tesla to exit the market recently seems to have added a new element, however. Now the question is if crypto is energy...more
The U.S. Securities Exchange Commission (SEC) is asking a court to freeze the assets of a cryptocurrency mining and multilevel marketing scheme that allegedly defrauded investors of $12 million. The SEC's complaint alleges...more
A Washington state federal court recently addressed claims relating to rates that cryptocurrency mining companies pay for electricity in Grant County, Washington. The court rejected all of the miner’s legal claims. The...more
Strikeout for Bitcoin ETF - Another ETF bites the dust. On February 26th the SEC rejected the application of NYSE Acre for the approval of an exchange traded fund sponsored by the New York firm of Wilshire Phoenix to...more
When is a digital asset a security or a commodity? Are SAFTs safe? Does hyping blockchain create an expectation of profit? Is blockchain a trademark, trade secret or neither? Are free tokens tax-free? Who is Satoshi Nakamoto?...more
A recent federal criminal action shows the depth of the U.S. government’s concern about the use of cryptocurrency (or virtual currency) to violate economic sanctions laws and the lengths to which it will go to charge such...more
US Treasury Announces Blockchain Pilot, Major Bitcoin Mining Facility Launches in Texas, Foreign Crypto Exchange Developments - There were several developments in the digital capital markets and payments space this week,...more
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
The Ethereum Classic blockchain was the victim of a 51% attack (often called a majority or Sybil attack) on January 5, 2019 that reorganized portions of the blockchain and allowed the attackers to double-spend 219,500 ETC...more
La última Notificación emitida por el IRS sobre Criptomoneda fue el Aviso 2014-21 publicado el 25 de Marzo del 2014 que brinda orientación en forma de respuestas a preguntas frecuentes (“Frequently Asked Questions”). ...more
As we have continued with our cryptocurrency posts, we are often asked questions about the foundational elements of the technology behind cryptocurrency. This is not surprising really, it’s a new technology that’s still...more
The last Notice issued by the IRS on Cryptocurrency was Notice 2014-21 posted on March 25, 2014 providing guidance in the form of answers to frequently asked questions. ...more