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 federal tax purposes, but Notice 2014-21 and subsequent Revenue Ruling 2019-24 and frequently asked questions do not provide any further guidance on the tax treatment
On October 8, 2020, the Department of Justice’s Cyber-Digital Task Force (DOJ) published “Cryptocurrency: An Enforcement Framework” (the Framework), which provides DOJ’s perspective on emerging law enforcement issues and challenges in areas involving cryptocurrency. As we have discussed previously, the government’s scrutiny of virtual currencies has increased as challenges surrounding regulation of this burgeoning
This practice note covers recent market trends in distributed ledger/Blockchain capital funding and regulation. It focuses on the legal framework for capital formation using distributed ledger/Blockchain technology to enable offerings of coins, tokens, and other rights (digital assets) and developments over the past few years.
On March 24, 2020, Judge P. Kevin Castel of the Southern District of New York issued a potentially groundbreaking decision in the matter of Securities and Exchange Commission v. Telegram Group Inc. et al. In his decision, Judge Castel tackled an issue that lies at the forefront of the cryptocurrency regulatory space: when are