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Ballard Spahr LLP

Fifth Circuit Rejects OFAC Designation of Tornado Cash Immutable Smart Contracts

Ballard Spahr LLP on

In a closely watched and complicated case, Van Loon et al. v. Dep’t of the Treasury et al., the U.S. Court of Appeals for the Fifth Circuit ruled that the Office of Foreign Assets Control (“OFAC”) cannot sanction Tornado...more

Troutman Pepper Locke

Will Resiliency Carry the Digital Asset Sector Through 2024?

Troutman Pepper Locke on

In 2023, the digital asset industry demonstrated remarkable resilience amidst significant challenges, including the dissolution of several digital asset financial services companies, numerous bank failures, and a $4.7 billion...more

Morrison & Foerster LLP

IRS Issues New Guidance and Proposed Form 1040 Question Regarding Virtual Currency

Morrison & Foerster LLP on

Last week the IRS issued a revenue ruling, FAQs, and a revision to draft Schedule 1 to Form 1040 regarding various aspects of virtual currency transactions.  The guidance is in line with the Treasury 2019-2020 Priority...more

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