News & Analysis as of

Digital Assets Blockchain Tax Liability

Troutman Pepper Locke

IRS Finalizes New Rules for DeFi Brokers: Challenge Immediately Filed in Texas Federal Court

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The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly impact the reporting requirements for brokers involved in digital asset transactions. The stated aim of...more

Polsinelli

Blockchain+ Bi-Weekly - January 2024

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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

Polsinelli

Blockchain+ Bi-Weekly - September 2023

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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

Hogan Lovells

Online intermediaries are obliged to collect Spanish VAT on sales of NFTs through their marketplaces

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Due to the anonymity of non-fungible tokens’ (“NFTs”) transactions, sellers face practical difficulties in determining whether or not they should charge Spanish Value Added Tax (“VAT”) to the buyers on sales through online...more

Miller Nash LLP

Today in Tax: How NFT Sellers Can Prepare for State Taxes

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Pennsylvania and Washington became the first two states to offer official guidance on how their existing tax regimes apply to nonfungible token (NFT) transactions. Their approaches offer two blueprints for other states to...more

Cadwalader, Wickersham & Taft LLP

Ethereum Merge – Soft Fork for Now?

Without an apparent hitch, Ethereum effected its Merge on Thursday, September 15, 2022 whereby the blockchain platform switched its validation from proof-of-work (“POW”) to proof-of-stake (“POS”). The switch will reduce the...more

Hogan Lovells

[Webinar] State of Crypto Market in Argentina and Lessons from the US and Europe - September 21st, 10:00 am - 11:30 am ET

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Blockchain technology, decentralized finance, and new forms of cryptoassets have a transformational impact on the financial market as we know it. Despite early adoption of cryptocurrencies in Argentina, its central bank is...more

Venable LLP

[Webinar] Your Legal Guide to NFTs, the Metaverse, and Web3 - June 14th - 16th, 1:00 pm - 2:00 pm ET

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Non-fungible tokens (NFTs), the metaverse, and Web3 bring with them a host of new legal challenges in such areas as IP, securities law, tax, and advertising. As NFTs revolutionize the digital landscape and global economy, it...more

Miller Nash LLP

Today in Tax: Taxing Authorities Identify Problem Behaviors in NFT Markets

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While there are many legitimate uses for cryptocurrencies and digital assets, criminals look for ways to exploit new technologies. A global tax group released a bulletin with some red flags that individuals should be aware of...more

Oberheiden P.C.

Tokenization Lawyer – 5 Reasons Why You Might Need One

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What is Tokenization? Tokenization is the process of converting an asset into a token on the blockchain. It operates by dividing—or fractionalizing—the ownership of an asset (whether the asset is a piece of real estate or...more

Miller Nash LLP

Today In Tax: Uncertainties Surrounding Cryptocurrencies, Mining, NFTs, and More

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While the number of cryptocurrencies and other blockchain-based assets continue to grow, the IRS’s published guidance is inadequate in addressing how to tax these new digital assets and transactions involving them....more

Gray Reed

Taxation of Digital Collectibles: Sports, CryptoPunks and CryptoKitties, Oh My!

Gray Reed on

What do professional athletes, punk artwork and digital kittens have in common?  They are all part of the expansion of valuable collectible assets using cryptocurrency and blockchain technology.  You can collect digital items...more

ArentFox Schiff

Non-Fungible Tokens: The Blockchain Technology Raising Legal Issues

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Non-fungible tokens or NFTs are digital assets that run on blockchain. The value of NFTs largely stems from the idea of scarcity. Collectors of NFTs can own unique digital assets like art, sports highlights, or songs which...more

Spilman Thomas & Battle, PLLC

Cryptocurrency, Legitimate Uses, and Legal Issues

Following the recent publication of the U.S. Attorney General's cryptocurrency enforcement framework, Spilman attorneys Corey Bonasso and Nick Mooney discuss cryptocurrencies, their legitimate uses, and some inherent legal...more

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