News & Analysis as of

Department of Justice (DOJ) Cryptocurrency Non-Fungible Tokens (NFTs)

BakerHostetler

Weekly Blockchain Blog - February 2025 #4

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U.S. Digital Asset Companies Continue Product Launches, Market Expansion - U.S. nonfungible token (NFT) marketplace OpenSea recently announced the launch of its new OS2 digital asset trading platform, which expands into...more

BakerHostetler

Weekly Blockchain Blog - December 2024 #3

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Digital Asset Companies Achieve Licenses, Launch Stablecoin Products - According to a recent press release, Anchorage Digital, a digital asset platform and infrastructure provider, announced that the New York State...more

BakerHostetler

Weekly Blockchain Blog - July 2024 #2

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US Stablecoin Companies Achieve Licenses, Avoid SEC Enforcement Action - According to a recent press release, Circle, the issuer of USDC and EURC, announced that it is now the “first global stablecoin issuer to achieve...more

BakerHostetler

Weekly Blockchain Blog - June 2024 #3

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EigenLayer TVL Surpasses $20B; New Self-Custodial Wallet Features Launch - According to recent reports, the total value locked (TVL) on the Ethereum network-based EigenLayer restaking protocol recently surpassed $20...more

BakerHostetler

Weekly Blockchain Blog - June 2024 #2

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TradFi/DeFi Integrations Announced, Yield-Bearing Stablecoin Launches - According to reports, Robinhood, a major U.S. financial services company, has entered into an agreement to acquire Bitstamp, a global cryptocurrency...more

BakerHostetler

Weekly Blockchain Blog - March 2024 #3

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Financial Firms Complete Blockchain Pilot, UK Approves Crypto ETNs - A recent press release announced completion of the Canton Network pilot, “a first-of-its-kind program demonstrating the interoperability of twenty-two...more

BakerHostetler

Weekly Blockchain Blog - March 2024

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Crypto Exchanges Launch Institutional Platform, LATAM Stablecoin - A major U.S. cryptocurrency exchange recently announced the launch of an institutional platform “aimed at institutions, asset managers, hedge funds and...more

Allen Barron, Inc.

Have You Disclosed Offshore Cryptocurrency and NFT Activities to the IRS?

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Have you fully disclosed offshore cryptocurrency and NFT activities to the IRS? Earlier this month, the US Department of Justice announced the indictment of a Texas man for tax returns that were inaccurate, incomplete, or...more

BakerHostetler

Weekly Blockchain Blog - February 2024 #2

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U.S. Companies Announce Crypto Cashback and NFT Ticketing Initiatives - According to recent reports, a major U.S. credit card company has partnered with Swoo, a mobile wallet blending traditional and crypto payments, to...more

BakerHostetler

Weekly Blockchain Blog - February 2024

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Crypto Firms Make Acquisitions, Integrate Products; New Crypto Index Launches - According to a recent press release, a major U.S. fintech company has announced an agreement to acquire a major digital asset custody provider....more

BakerHostetler

Crypto Products Launch in Payments, Data Management, Wireless Networks; FASB Updates Crypto Accounting Rules; Crypto Enforcement...

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Crypto Initiatives Focus on Latin America; New Tether Policy Aligns with OFAC - According to a press release, earlier this month Circle Internet Financial announced a partnership with Nubank, one of Latin America’s largest...more

Allen Barron, Inc.

How Does the IRS Use AI to Identify Tax Cheats?

Allen Barron, Inc. on

Could Artificial Intelligence (AI) increase the likelihood of an IRS audit in your future? How does the IRS use AI to identify US taxpayers who attempt to hide assets, under-report income or otherwise cheat the IRS? In...more

ASKramer Law

Digital Asset Theft Loss Deductions are More Complicated Than You Think

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Taxpayers can take a tax deduction with respect to “theft” losses that result from an illegal “taking of property” done with criminal intent. Among various other types of criminal activities, fraud is treated as theft under...more

BakerHostetler

Crypto Firms Launch New Initiatives; Whitepapers Address DeFi, Crypto Risks, CBDCs; OFAC Adds Crypto Addresses to SDN List...

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Crypto Firms Continue to Launch New Initiatives Across Markets - In a recent press release, digital asset infrastructure firm Fireblocks announced its acquisition of BlockFold, “a smart contract development and...more

BakerHostetler

Stablecoin Pilot Launches; Crypto Fund Report Published; Senate Seeks Crypto Tax Input; Numerous Crypto Enforcement Actions...

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Company Announces Stablecoin Pilot; BIS Publishes Reports on CBDCs - According to a blog post by a major multinational software company, the company has begun a pilot project to experiment with using the USDC and EUROC...more

BakerHostetler

NFTs Used to Serve Complaint; Treasury Official, SEC Chairman Address Crypto Compliance; NYAG Sues Crypto Exchange; DOJ Takes Down...

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NFT Integration Software Released; NFTs Used to Serve Complaint in Civil Action - According to a recent press release, a major U.S. software company has launched a suite of tools that will allow users to “enter the Web3 and...more

Goodwin

2022 Year in Review: Digital Currency and Blockchain Litigation and Enforcement Developments

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Throughout a tumultuous 2022, the digital currency and blockchain space saw a number of significant investigation, litigation, and enforcement matters as regulators continue their laser focus on the industry. This Year in...more

Morgan Lewis - All Things FinReg

Staking as a Service Regulating Digital Assets in the UK and Dubai and More

In this new series, we will provide an overview of recent noteworthy developments in the digital asset space around the world. The start of February was a busy period for regulators in the United States, where the US...more

BakerHostetler

DeFi, Stablecoin Products Launch; FASB to Allow Fair Value for Crypto Accounting; SEC Addresses Crypto IRAs; DOJ Enforcement...

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DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs - According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...more

BakerHostetler

Data Published on Crypto Exchange Volume, NFT Royalties, Crypto Crime; Crypto Adoption Continues; DOJ and CFTC Bring Multiple...

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New Data Published on 2022 Crypto Exchange Trading Volume, NFT Royalties - According to recent reports, Binance, currently the world’s largest cryptocurrency exchange by trading volume, controlled 92 percent of global...more

BakerHostetler

Crypto Products Launch; NFTs Allowed for Political Fundraising; Bank Regulators Address Crypto Risk; DOJ/SEC Target Crypto Fraud;...

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Crypto Apps Launch New Features, Custody Firm Achieves CCSS Certificate - According to recent reports, Uniswap V3 was the most used Ethereum contract in 2022, seeing over 15.5 million transactions throughout 2022 and using...more

BakerHostetler

Crypto Payment Products and NFT Initiatives Launch; Crypto Market Data Published; DOJ Brings Charges Alleging Cryptocurrency Ponzi...

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New Crypto Payment Products Launch, Reports Publish Crypto Market Data A recent press release announced that MetaMask, the popular Ethereum (ETH) Network crypto wallet provider, will integrate its self-custodial wallets...more

BakerHostetler

CBDC Report Published; Crypto and NFT Initiatives Launch; OFAC Redesignates Tornado Cash; SEC and CFTC Target Crypto Fraud; FTX...

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CBDC Report Published, Blockchain Settlement and Payment Initiatives Launch - This week the New York branch of the U.S. central bank published a report on the Phase I results of Project Cedar, “a multiphase research effort...more

BakerHostetler

New Crypto Products Launch; US Official Addresses Crypto Regulation; State Securities Regulators Target Metaverse Casino NFTs; DOJ...

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Crypto Products Launch in Debit Cards, Payment Gateways, Trading Platforms - This week, two cryptocurrency financial services and trading platforms announced partnerships with traditional financial services companies to...more

BakerHostetler

New Crypto Services Launch for Banks, Fintechs and Staking; DOJ Targets Major Cryptocurrency Money-Laundering Scheme; Japan Warns...

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Crypto Developments Emerge in Payments, Trading, Staking and Accounting This week, a global financial services and payment technology firm announced that it has partnered with a major U.S. cryptocurrency custody and...more

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