May 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
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Hawaii’s Money Transmitters Modernization Act Will No Longer Apply to Cryptocurrency Activities
On 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
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Lawmakers Introduce Resolution to Nullify SEC’s Crypto Accounting Bulletin
U.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
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Delay on Reporting Digital Asset Transactions
On 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
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5 Trends to Watch: 2024 Blockchain
- Continued Robust Litigation and Enforcement Actions by Federal and State Regulators and Enforcement Authorities – We will likely see a similar level of anti-fraud prosecutions by the Department of Justice
![Bitcoin-gold-coins-with-wallet-close-up-Virtual-cryptocurrency-concept[1]](https://www.gtlaw-overheardontheblockchain.com/files/2022/02/Bitcoin-gold-coins-with-wallet-close-up-Virtual-cryptocurrency-concept1.jpg)
NYDFS Updates Guidance on Virtual Coin-Listing/Delisting Frameworks and the Greenlist
On Sept. 18, 2023, the New York State Department of Financial Services (NYDFS) issued a press release announcing updates to its ongoing oversight of the digital asset space, including (1)
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Treasury and IRS Issue New Proposed Regulations on Digital Assets
On Aug. 25, 2023, the Internal Revenue Service (IRS) and the Treasury Department issued proposed regulations (the Proposed Regulations) regarding the sales or exchanges of digital assets, including
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UK Court Grapples with Cryptocurrency Preservation and Enforcement Issues
Digital assets are an increasingly important part of modern society. That was the conclusion the UK Law Commission reached in its final report on digital assets that was published recently
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IRS Clarifies Taxation of Staking Crypto Rewards
To address the tax implications for taxpayers who stake cryptocurrency on a proof-of-stake blockchain and receive validation rewards, on July 21 the Internal Revenue Service (IRS) issued Revenue Ruling 2023-14
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SEC v. Ripple Labs, Inc., et al.: A Turning Point in Cryptocurrency Jurisprudence?
On July 13, 2023, in a highly anticipated decision for the cryptocurrency industry, a Southern District of New York court granted in part and denied in part the parties’ cross
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