The SEC rescinded its cryptocurrency accounting guidance, Staff Accounting Bulletin (SAB) 121, on Jan. 23, 2025. Issued in March 2022, SAB 121 required crypto custodians to record digital assets held
Continue Reading SEC Rescinds SAB 121
Virtual Currencies, Digital Assets & the Law
The SEC rescinded its cryptocurrency accounting guidance, Staff Accounting Bulletin (SAB) 121, on Jan. 23, 2025. Issued in March 2022, SAB 121 required crypto custodians to record digital assets held…
Continue Reading SEC Rescinds SAB 121On Nov. 26, 2024, in what has been deemed a win for open-source technology, the U.S. Court of Appeals for the Fifth Circuit reversed the district court’s ruling in Van…
Continue Reading Fifth Circuit Rejects OFAC Sanction of Tornado Cash Crypto CodeWith new rules under Regulation (EU) 2023/1114 on Markets in Crypto-Assets (Markets in Crypto-Assets Regulation – MiCA), virtual asset service providers operating in Europe are looking for favorable jurisdictions to…
Continue Reading New Italian Rules for Virtual Asset Service ProvidersOn 20 April 2023, the European Parliament adopted Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA). The European Council approved MiCA on 16 May 2023; it was published in the…
Continue Reading New Rules for Crypto-Assets in EuropeGreenberg Traurig is mentioned in client Riot Platform’s press release announcing their acquisition of Block Mining, a vertically integrated Bitcoin miner. The acquisition expands the company’s geographic footprint and operational…
Continue Reading Greenberg Traurig Represents Riot in Acquisition of Block MiningMay 23, 2024, the SEC approved the first investment products linked to the price of Ether for listing and trading on three exchanges, following approval of the first Bitcoin ETFs…
Continue Reading SEC Approves Ethereum ETFs For TradingOn Jan. 25, 2024, the Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI) and the Hawaii Technology Development Corporation (collectively, the “Agencies”) jointly issued a press…
Continue Reading Hawaii’s Money Transmitters Modernization Act Will No Longer Apply to Cryptocurrency ActivitiesU.S. Sen. Cynthia Lummis (R-WY) and Reps. Wiley Nickel (D-NC) and Mike Flood (R-NE) are working to overturn a controversial Securities and Exchange Commission (SEC) staff accounting bulletin, SAB 121…
Continue Reading Lawmakers Introduce Resolution to Nullify SEC’s Crypto Accounting BulletinOn Jan. 16, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) announced the delay of the requirement for persons engaged in a trade or businesses to report…
Continue Reading Delay on Reporting Digital Asset Transactions