Have you fully disclosed offshore cryptocurrency and NFT activities to the IRS? Earlier this month, the US Department of Justice announced the indictment of a Texas man for tax returns that were inaccurate, incomplete, or...more
Following the issuance of a new set of rules governing PRC companies listing or seeking listing overseas, the China Securities Regulatory Commission (CSRC), Ministry of Finance, National Administration of State Secrets...more
In a previous post, we blogged about certain proposed rules issued by China Securities Regulatory Commission (the “CSRC”) on December 24, 2021. The proposed rules consist of general management rules on offshore listings of...more
In response to recent data security concerns arising from overseas listings of Chinese internet companies operating in the People’s Republic of China (the “PRC”), the Cyberspace Administration of China (the “CAC”) has issued...more
On July 6, the General Office of the Central Committee of China’s Communist Party and the General Office of the State Council jointly issued the Opinions on Strictly Cracking Down on Illegal Securities-related Activity in...more
Recent and significant regulatory and legislative events in the digital asset space demonstrate the evolving and expanding approach by U.S. and international regulators to the burgeoning digital asset markets. These...more
Recently, the U.S. Securities and Exchange Commission (SEC) issued an Investor Alert (the Alert) warning investors to use caution before investing in initial exchange offerings (IEOs) through online trading platforms. The...more
On October 11, 2019, the SEC filed an emergency action to stop Telegram (Telegram Group Inc. and its wholly owned subsidiary TON Issuer Inc.) from continuing its offering of tokens. Telegram raised approximately $1.7 billion...more
A growing number of foreign and Chinese companies are accessing the renminbi (“RMB”) bond market to fund projects, enhance liquidity and improve their working capital in China. These companies can raise capital while avoiding...more
China Securities Regulatory Commission (“CSRC”), the securities regulator of the People’s Republic China (the “PRC” or “China”), has scrapped quantitative threshold requirements for Chinese companies applying for offshore...more
Delaware companies now have a roadmap to apply for a listing on the Hong Kong Stock Exchange. In February 2012, the Hong Kong Stock Exchange (HKEx) issued Listing Decision HKEx-LD24-2012, which permits companies...more
Since its first use by Sina Corporation in 2000, the VIE structure has been widely adopted by many Chinese companies to attract foreign investment and complete offshore listings. While companies operating under VIE structure...more