On June 1, 2022, the U.S. Attorney’s Office for the Southern District of New York charged former OpenSea employee Nathaniel Chastain with wire fraud1 for an NFT “insider trading” scheme. At the time, we here at SKrypto asked:...more
The Internal Revenue Service (“IRS”) recently finalized Treasury Regulations (the “Final Regulations”) and published two notices and a Revenue Procedure (the “Transitional Guidance”) for broker reporting of certain...more
8/29/2024
/ Anti-Money Laundering ,
Brokers ,
Digital Assets ,
Fair Market Value ,
Final Rules ,
IRS ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Reporting Requirements ,
Stablecoins ,
Tax Code ,
Tax Planning
On Sept 13, 2023, for its second non-fungible token (NFT) related enforcement action, the SEC issued a settled Order against Stoner Cats 2, LLC (“SC2”) for SC2’s offer and sale of 10,320 NFTs linked to images of characters...more
In February 2021, an NFT for a 13-second video of a Lebron James dunking a basketball sold for $208,000. Because past and present wilt before Lebron’s greatness; because he contains multitudes. Also because Lebron is a...more
On June 1, 2022, the U.S. Attorney’s Office for the Southern District of New York announced the indictment of former OpenSea employee Nathaniel Chastain for an NFT “insider trading” scheme.
From at least June to...more