The U.S. Senate passed its infrastructure bill (the “Bill”) that includes additional cryptocurrency reporting requirements, which are expected to generate $28 billion in revenue. The Bill currently does not provide


Continue Reading UPDATED: Infrastructure Bill Contains New Cryptocurrency Reporting Requirements

On July 5, 2021, the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog, released its findings from a yearlong review documenting the progress that its
Continue Reading New Report Shows Majority of ‘Financial Action Task Force’ Countries Have Not Implemented Virtual Asset Guidance

Recent John Doe summonses show the IRS is expanding its use of those summonses to aggressively investigate potential tax evasion. Within the past week, the IRS has received authorization to
Continue Reading The IRS Continues Aggressive Use of John Doe Summonses to Investigate Tax Evasion Related to Use of Cryptocurrency, Offshore Service Providers

On Wednesday, April 7 from 12-1:30 p.m. EDT, please join Greenberg Traurig, the Hon. E. David Burt, JP, MP, Premier of Bermuda, the Chamber of Digital Commerce, and the Bermuda
Continue Reading GT’s Blockchain & Digital Assets Group Hosts ‘The New Bermuda Triangle: Managing Risks in the Digital Age’

On Feb. 18, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a $507,375 settlement with BitPay, Inc., an Atlanta-based payment processing company that enables
Continue Reading OFAC Resolution with BitPay Highlights Importance of Sanctions Compliance for All Companies Engaged in Digital Currency Transactions