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Crypto Exchanges Digital Assets Internal Revenue Service

Allen Barron, Inc.

Internal Revenue Service Criminal Investigation (IRS-CI) Reports Billion Dollar Impact

Allen Barron, Inc. on

Internal Revenue Service Criminal Investigation (IRS-CI) recently released its Fiscal Year 2024 (FY24) Annual Report, providing insight into the types of crimes the agency is focused upon, as well as the first criminal...more

Allen Barron, Inc.

Is it Too Late to Correct Past FBARs and File Amended Returns with the IRS?

Allen Barron, Inc. on

Is it too late to correct past FBARs and file amended returns with the IRS? The net is closing in on U.S. taxpayers with unreported or under-reported domestic and offshore income and assets. The IRS has increased audits in...more

BakerHostetler

First Circuit Adds Another Notch to the IRS’ Belt - Upholds Power To Summons Information from Virtual Currency Exchanges

BakerHostetler on

Anyone who thought blockchain would keep their cryptocurrency transactions private from the IRS needs to think again. According to the First Circuit’s recent holding, cryptocurrency users do not have a Fourth Amendment...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Final Regulations Regarding Reporting Requirements for Digital Asset and Cryptocurrency Transactions

On June 28, 2024, the Department of the Treasury (the Treasury) and the Internal Revenue Service (the IRS) released final regulations (Final Regulations) relating to information reporting, determination of basis and gain or...more

BakerHostetler

Weekly Blockchain Blog - March 2024

BakerHostetler on

Crypto Exchanges Launch Institutional Platform, LATAM Stablecoin - A major U.S. cryptocurrency exchange recently announced the launch of an institutional platform “aimed at institutions, asset managers, hedge funds and...more

Gray Reed

Release the Kraken Tax Transaction Information

Gray Reed on

On June 30, 2023 the District Court in the Northern District of California granted a petition to enforce the cryptocurrency exchange Kraken to release customer information.  Specifically, Kraken was ordered to produce the...more

DarrowEverett LLP

Not Your Keys, Not Your Coins: How to Stay Safe in 'Wild West' of Crypto

DarrowEverett LLP on

Satoshi Nakamoto’s invention of Bitcoin in 2009 opened the door to rethinking the way value can be transferred and stored. However, crypto markets have long been considered by most analysts and attorneys as the “Wild West” of...more

BakerHostetler

Crypto Products and DeFi Pilot Launch; Reports Address NFT Royalties, Ethereum PoS Efficiency; IRS, CFTC, Address Crypto; Exchange...

BakerHostetler on

New Crypto Products Launch; Singapore Completes DeFi Pilot with Major Banks - In a press release published this week, a major U.S. cross-border payments and money transfer company announced a new service in its existing...more

BakerHostetler

The Tax Man Isn't Leaving: The IRS Continues to Issue John Doe Summonses Relating to Virtual Currency Transactions

BakerHostetler on

Key Takeaways - ..A court approved the issuance of a John Doe summons by the IRS to a bank aimed at identifying individuals who are potentially avoiding their income tax obligations relating to cryptocurrency...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - September 2019

In this issue of The Distributed Ledger, we discuss the IRS' warning letters for over 10,000 cryptocurrency holders, the SEC's settlement with a blockchain company regarding unregistered ICO transactions, and a European...more

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