News & Analysis as of

Proposed Legislation Virtual Currency Regulatory Agenda

Troutman Pepper Locke

The GENIUS Act: What Is It and What’s Next?

Troutman Pepper Locke on

On June 17, the U.S. Senate voted 68-30 to pass S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act (the Act). This represents a landmark effort by the U.S. Congress to...more

Cadwalader, Wickersham & Taft LLP

Congress Getting in on Barbenheimer Action, Goes for Crypto Tax Double Feature

Recent legislative action suggests that Congress is eager to resolve many unanswered crypto tax issues.  On July 11, 2023, Senators Ron Wyden and Mike Crapo released an open letter to the “members of the digital asset...more

Cadwalader, Wickersham & Taft LLP

The Crypto Industry Is Talking Tax, and the Senate Is Listening

On June 7, 2022, U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Lummis-Gillibrand Responsible Financial Innovation Act (the “Act”), a comprehensive legislative scheme for the regulation of...more

Proskauer - Blockchain and the Law

Congress and the IRS Make Moves to Improve Taxpayer Compliance for Cryptocurrency Transactions

IRS Commissioner Charles Rettig, testifying before Congress in April 2021, estimated the gap between taxes owed and taxes collected in the United States to be close to $1 trillion....more

Robins Kaplan LLP

Financial Daily Dose 12.12.2019 | Top Story: Fed Holds Rates Steady And Looks to Stay There

Robins Kaplan LLP on

As expected, the Fed kept interest rates unchanged on Wednesday while also signaling that “they would wait to see how the economy fared before making another move”....more

Burr & Forman

Legislative Update: Uniform Regulation of Virtual-Currency Business Act

Burr & Forman on

Last October, the Uniform Law Commission released the Uniform Regulation of Virtual-Currency Business Act (VCBA), which sets forth extensive requirements applicable to persons or entities who engage in virtual currency...more

Perkins Coie

California Legislature Proposes Virtual Currency License

Perkins Coie on

On February 27, 2015, California Assembly member Matt Dababneh (D – Encino) introduced AB 1326, which would require virtual currency businesses to be licensed by the Department of Business Oversight (DBO). To get licensed,...more

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