News & Analysis as of

Bitcoin Enforcement Actions Virtual Currency

Sheppard Mullin Richter & Hampton LLP

NFT Legal Issues

This year, the SEC has ramped up its enforcement efforts against digital asset marketplaces for selling non-fungible tokens (“NFTs”) (and other digital assets) the agency alleges are securities. In response, some potential...more

Wiley Rein LLP

[Podcast] 2024 Crypto Year in Review

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Join Josh and Frank on this special year-end episode of CryptoCounsel as they take a look back at the most significant developments in crypto law and regulation in 2024. From Bitcoin's incredible surge past $100,000 to the...more

BakerHostetler

Weekly Blockchain Blog - November 2024 #3

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Crypto Exchanges and Stablecoin Issuers Announce Multiple New Products - Multiple crypto sector companies have recently announced new products. In a press release, LayerZero, “an omnichain interoperability protocol that...more

Cadwalader, Wickersham & Taft LLP

First Stand-Alone Crypto Tax Fraud Case Leads to Guilty Plea

On September 12, 2024, the U.S. Department of Justice (“DOJ”) announced that Frank Richard Ahlgren III pleaded guilty to filing a false tax return underreporting gains from selling $3.7 million in Bitcoin. As we discussed...more

Cadwalader, Wickersham & Taft LLP

Crypto: Give Unto Caesar What Is Caesar’s

Earlier this year the U.S. Department of Justice (“DOJ”) brought USA v. Ahlgren, its first crypto case with tax evasion allegations unrelated to another crime, demonstrating the DOJ’s willingness to pursue stand-alone crypto...more

Ballard Spahr LLP

Blockchain Analysis and Related Expert Testimony Admissible In Criminal Trial

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It is challenging for law enforcement to track down and trace illicit activities conducted through digital currencies. The process can be very time- and resource-intensive. Further, securing charges and arrests, and...more

BakerHostetler

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

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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

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - December 2023 Updates

On the one hand, the year ended where it began. The legislation on stabelecoins and market structure that would provide a regulatory framework for digital assets has still not been enacted into law. And Securities and...more

Polsinelli

Blockchain+ Bi-Weekly - August 2023 #2

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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

BakerHostetler

New Crypto Products Launch, Draft Digital Assets Bill Released, Regulators Address Stablecoins, DOJ Publishes Crypto Report, Hacks...

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Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...more

BakerHostetler

Executive Order Addresses Digital Assets; Banks and Restaurants Launch Crypto Initiatives; FinCEN Issues Alert; SEC, CFTC and DOJ...

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This week, President Joe Biden signed “Executive Order on Ensuring Responsible Development of Digital Assets” (EO). According to a fact sheet published with the EO, the EO calls for measures to accomplish the following...more

Burr & Forman

China Bans Crypto Currencies and Related Services

Burr & Forman on

The People’s Bank of China (“PBOC”) announced this morning that it is banning crypto currencies and related services, including “trading, order matching, token issuance and derivatives for virtual currencies are strictly...more

Perkins Coie

Digital Asset SEC Timeline - Update September 2021

Perkins Coie on

The Digital Asset SEC Timeline serves as an interactive compilation of select SEC guidance, enforcement actions, and speeches relating to the application of the federal securities laws to digital assets. Beginning with the...more

BakerHostetler

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

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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

Hogan Lovells

Cryptocurrency disputes: five things every litigant should know

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In December 2020, the World Economic Forum reported that “cryptocurrencies have reached a point of inevitability”. In some business circles, the hype has been enormous with Jack Dorsey, the CEO of Twitter, having predicted...more

BakerHostetler

Market Actors Integrate Cryptocurrency into Payment and Investment Products, More NFTs Launched, SEC Staff Issues Crypto...

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Market Actors Continue to Integrate Cryptocurrency into Payment Systems - According to a press release this week, California-based Silvergate Bank announced that it will become the issuer of Diem USD, a new cryptocurrency...more

McDermott Will & Emery

Finding John Doe, Part II: IRS Secures Another Victory to “Root Out” Virtual Currency Tax Noncompliance

The Internal Revenue Service (IRS) has scored another significant victory in its rapidly increasing virtual currency tax enforcement efforts. On May 5, 2021, the US District Court for the Northern District of California...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2021

This issue discusses a variety of legal, regulatory and enforcement developments in the digital asset space in the U.S. and Europe....more

BakerHostetler

Financial Firms Launch New Crypto Products, NFTs Trending, Crypto Exchange Acquires Broker-Dealer, SEC, DOJ, IRS and CFTC Actions...

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US Institutional Financial Firms, and Fintech Startups, Launch Crypto Products - A major U.S. financial services corporation announced this week that it would begin to settle transactions over the Ethereum Network in USD Coin...more

Perkins Coie

Blockchain Week in Review - March 2021 #3

Perkins Coie on

US Regulatory Developments BitMEX CEO to Surrender on AML Charges BitMEX’s founder and former CEO, Arthur Hayes, reached an agreement with U.S. officials to surrender to federal charges. On October 1, 2020, the U.S....more

BakerHostetler

Crypto Firm Initiatives in CBDCs and Custody, GSA Auctions Bitcoin, Marketing Campaigns Integrate Crypto, ETFs Seek Approval,...

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Crypto Firms Expand CBDC and Custody Initiatives, GSA Auctions Bitcoin - Ripple Labs recently released a white paper describing its XRP cryptocurrency as a way to link different central bank digital currencies (CBDCs). The...more

The Volkov Law Group

CFTC Opens Inquiry into Binance, One of the World’s Largest Cryptocurrency Exchanges

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On Friday March 12, Bloomberg News reported that the Commodity Futures Trading Commission (“CFTC”) has opened an inquiry into Binance Holdings Ltd. (“Binance”) to investigate allegations that the exchange allowed US citizens...more

The Volkov Law Group

The New York Attorney General’s Office Reaches Settlement with Bitfinex and Tether

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In late February, the New York Attorney General’s office (“NYAG”) settled with Bitfinex and Tether stemming from charges relating to financial mismanagement.  The NYAG alleged that Bitfinex and Tether attempted to cover up...more

Amundsen Davis LLC

Ripple Effect: SEC Lawsuit against Cryptocurrency Company May Provide Guidance For Crypto Industry

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On December 21, 2020, the Securities and Exchange Commission (SEC) filed a high-profile enforcement action against a major cryptocurrency company. The SEC complaint alleges violations of federal securities laws by defendant...more

Farrell Fritz, P.C.

SEC vs. Ripple Could Make Waves in Cryptocurrency Market

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On December 2, the Securities and Exchange Commission filed a lawsuit against Ripple Labs, Inc. and two of its executives alleging they offered and sold over $1.38 billion of digital asset XRP without registration or...more

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