The SEC rescinded its cryptocurrency accounting guidance, Staff Accounting Bulletin (SAB) 121, on Jan. 23, 2025.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The SEC rescinded its cryptocurrency accounting guidance, Staff Accounting Bulletin (SAB) 121, on Jan. 23, 2025.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 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 TransactionsOn Oct. 13, 2023, California Governor Gavin Newsom signed CA AB39, the Digital Financial Assets Law (DFAL), which is the first comprehensive framework to regulate the digital asset market…
Continue Reading California Enacts Digital Assets Licensing LawOn Oct. 23, 2023, FinCEN published an NPRM that identifies international CVC mixing as “a class of transactions of primary money laundering concern,” and finds that imposing additional recordkeeping and…
Continue Reading FinCEN Proposes Rule to Address Money Laundering and Terrorist Financing Risks Associated with CVC Mixing