On May 12, 2022, Gov. Ron DeSantis signed bill CS/HB 273 (the Bill), amending Florida’s money services business (MSB) laws (i.e., Chapter 560 of the Florida Statutes) to, among other
Continue Reading Florida Gov. Signs Bill that Defines ‘Virtual Currency’ and Eases Licensing Restrictions on Certain Virtual Currency Transactions in the State
On May 4, 2022, California Gov. Gavin Newsom signed Executive Order N-9-22 (EO) to create a regulatory approach for cryptocurrency companies and to determine how to use blockchain technology for
Continue Reading California Governor Issues Executive Order Fostering Use and Regulation of Blockchain and Crypto
On May 3, 2022, the U.S. Securities and Exchange Commission (SEC) announced in a press release that it is nearly doubling the size of its enforcement unit overseeing cryptocurrency markets
Continue Reading SEC Steps Up Enforcement Activities in Crypto Markets
At a speech to the University of Pennsylvania Law School’s Capital Markets Association on April 4, 2022, SEC Chair Gary Gensler took the opportunity to again promote his strong desire
Continue Reading SEC Chair Continues Push to Regulate Digital Asset Markets
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What is blockchain? What is cryptocurrency? Non-fungible tokens? This short overview seeks to answer these questions in simple and relatable terms.
Click here to read the full GT Primer.
Continue Reading Blockchain, Crypto & NFTs: A 5-Minute Primer to Help You Understand the Basics
On Feb. 14, 2022, the Securities and Exchange Commission (SEC) charged crypto lending platform BlockFi Lending LLC (BlockFi) with (1) failing to register the offers and sales of its crypto
Continue Reading SEC’s BlockFi Order Signals Further Scrutiny of DeFi
The IRS has not issued any clear guidance on the taxation of staking rewards. In 2014, the IRS issued Notice 2014-21, which provides that cryptocurrency is treated as property for
Continue Reading A Recent Court Case Leaves Many Speculating on the Taxation of Staking Rewards
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On Jan. 20, 2022, the Board of Governors of the Federal Reserve System (Fed) issued the Money and Payments: The U.S. Dollar in the Age of Digital Transformation paper (Paper)
Continue Reading Federal Reserve System Takes First Step Toward Creating Its Own Digital Currency
The digital asset and blockchain sector in 2021 saw exponential growth and adoption fueled by stablecoins, non-fungible tokens (NFTs), decentralized finance (DeFi), and decentralized autonomous organizations (DAOs). Headed into 2022,
Continue Reading Digital Assets Sector: What to Watch for in 2022
On Nov. 23, 2021, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a joint
Continue Reading US Federal Banking Regulators Release Joint Statement on ‘Crypto-Asset Policy Sprint Initiative’