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Virtual Currency › Commodities Futures Trading Commission › Internal Revenue Service

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
DLA Piper

Blockchain and Digital Assets News and Trends – January 2025

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This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets. While the use cases for blockchain...more

Akin Gump Strauss Hauer & Feld LLP

The Responsible Financial Innovation Act – A Bullet Point Summary

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Key Points - On June 7, 2022, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) released long-awaited legislation addressing the regulatory and tax treatment of digital assets. Their Responsible Financial...more

BakerHostetler

[Podcast] Blockchain University: Relationship Drama: Cryptocurrencies, Blockchain and the Law

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Our fifth episode provides an overview of the key legal issues facing cryptocurrencies and blockchain in the U.S....more

Cole Schotz

How to Use Cryptocurrencies

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Uses of Cryptocurrency Overview- As previously detailed, there are a number of regulations surrounding Cryptocurrencies which vary by location (State Regulations) and by federal agency (FINCEN Regulations, IRS Regulations,...more

Cole Schotz

Cryptocurrencies And The Commodity Futures Trading Commission

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As previously discussed, there are quite a few regulatory schemes surrounding Digital Assets and Cryptocurrencies. In addition to the FinCen Rulings, each State has its own regulations. The Internal Revenue Service (“IRS”)...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

The Volkov Law Group

DOJ Cryptocurrency Guidance Outlines Enforcement Partnerships (Part II of II)

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DOJ’s Cyber Digital Task Force’s report, “Cryptocurrency: An Enforcement Framework,” provides a comprehensive on the growing partnerships between DOJ and other offices within the executive branch....more

The Volkov Law Group

DOJ Releases Cryptocurrency Guidance and Enforcement Framework (Part I of II)

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Earlier this month, the Department of Justice (“DOJ”), through its Cyber Digital Task Force (hereinafter the “Task Force”), published its 83-page crypto guidance report titled “Cryptocurrency: An Enforcement Framework.”...more

Vinson & Elkins LLP

Cryptocurrency 101 – DOJ’s New Cryptocurrency Enforcement Framework Provides Guidance And Promises Of Heightened Scrutiny Of...

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On October 8, 2020, the Attorney General’s Cyber-Digital Task Force (“the Task Force”) issued its Cryptocurrency Enforcement Framework (the “Report”), which offers background on virtual assets, enforcement milestones, and...more

Perkins Coie

Blockchain Week in Review - September 2020

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U.S. Developments - CFTC Approves LedgerX to Clear Fully-Collateralized Futures and Options - The Commodity Futures Trading Commission (CFTC) announced that it has approved LedgerX, LLC’s amended order of registration to...more

McDermott Will & Emery

Can a Virtual Currency Position Be Treated as a Commodity for Tax Purposes?

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Some virtual currency units and positions are treated as commodities by the CFTC and US courts. The IRS has told taxpayers that it views convertible virtual currency as property, not foreign currency, for federal tax...more

BakerHostetler

Blockchain 50 Published, Exchanges Expand Services, Enforcement Actions by SEC, CFTC and International Tax Authorities, Hacks...

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Forbes Publishes Blockchain 50, Cryptocurrency Exchanges Expand Services - This week, Forbes published its second annual Blockchain 50 list, recognizing the 50 largest companies with significant blockchain technology...more

BakerHostetler

Blockchain Pilots from US Treasury, Seafood Providers, Voting Systems; Global Regulators Address Stablecoin Risks

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US Treasury Announces Blockchain Pilot, Major Bitcoin Mining Facility Launches in Texas, Foreign Crypto Exchange Developments - There were several developments in the digital capital markets and payments space this week,...more

Perkins Coie

Blockchain Week in Review - October 2019

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U.S. Developments - U.S. Federal Regulatory Developments - CFTC, FinCEN, and SEC Leaders Release a Join Statement on Digital Assets - On October 11, 2019, the heads of the Commodity Futures Trading Commission (“CFTC”),...more

Katten Muchin Rosenman LLP

Bridging The Week - October 2019 #2

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A broker-dealer and its chief executive officer settled charges brought in 2017 by the Securities and Exchange Commission that the firm facilitated manipulative conduct by a customer, despite being alerted by regulators and...more

Katten Muchin Rosenman LLP

Bridging the Weeks - July 2019 #5

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A federal appellate court in California issued a decision effectively ratifying the Commodity Futures Trading Commission’s expansive view of its authority to bring enforcement actions addressing a diverse range of purported...more

Foodman CPAs & Advisors

¿Vale la pena el riesgo de la Moneda Virtual?

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Hemos leído que la Moneda Virtual (MV) es un "activo especulativo" que, en determinadas circunstancias, puede utilizarse para pagar bienes o servicios o ser retenido para inversiones; y que su intercambio o uso de intercambio...more

BakerHostetler

Blockchain Applications for Enterprise and Payments Evolve, New Legislation Proposed, Mining Malware Surges and a Bitcoin Bug Is...

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Blockchain Initiatives Pursue Solutions for Refugees, Voting, Smart Cities, Defense and Food Safety - The World Food Programme (WFP) and UN Women announced last week that they are collaborating in an initiative to use...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Cryptocurrency in 2018

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• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more

Foodman CPAs & Advisors

Who will have the last word with Virtual Currency? IRS, FinCEN, SEC, OFAC or the CFTC?

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Virtual Currency (VC) investors are currently investing without clarity regarding which Government Agency(s) has the final word with respect to the treatment of VC. US Agencies: IRS, FinCEN, SEC and CFTC – have expressed...more

Katten Muchin Rosenman LLP

Bridging the Weeks - March 2018 #3

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The Department of Justice and the Securities and Exchange Commission opposed a motion to dismiss filed by a defendant named in a criminal indictment, charging him with offering and selling two types of digital tokens issued...more

K&L Gates LLP

Initial Coin Offerings: Key Considerations You Absolutely, Positively Need to Know About Before Launching an ICO

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Initial Coin Offerings (ICOs) have rapidly emerged as the hottest trend in FinTech financing, albeit one that is not without controversy. Put simply, an ICO is a method of fundraising somewhat akin to an initial public...more

Perkins Coie

Blockchain Week in Review – May 2017 #4

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Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Perkins Coie

Treatment of Bitcoin Under U.S. Property Law

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In this white paper, we analyze the treatment of bitcoin under applicable U.S. property law. We conclude that property interests should exist in bitcoin under such law, and that multiple sources of persuasive authority...more

BakerHostetler

The Bitcoin Identity Crisis: Currency or Property?

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The confusion over Bitcoin grows in the latest lawsuit brought in a California bankruptcy court by Trustee Mark Kasolas against Marc Lowe, a former employee of HashFast Technologies LLC. The trustee alleges, among other...more

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