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, includingContinue Reading Treasury and IRS Issue New Proposed Regulations on Digital Assets
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…Continue Reading UK Court Grapples with Cryptocurrency Preservation and Enforcement Issues
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…Continue Reading SEC v. Ripple Labs, Inc., et al.: A Turning Point in Cryptocurrency Jurisprudence?
In what appears to be a case of first impression, a federal district court has held that a decentralized autonomous organization (DAO) is a person subject to the provisions of…Continue Reading In Decentralized Finance, DAOs Are People Too
On Feb. 23, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively…Continue Reading Federal Reserve, FDIC, and OCC Issue 2nd Joint Statement Highlighting Liquidity Risks to Banks Engaged in Crypto-Asset-Related Activities
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
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
What is blockchain? What is cryptocurrency? Non-fungible tokens? This short overview seeks to answer these questions in simple and relatable terms.
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