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Morrison & Foerster LLP

Key Takeaways from the White House Crypto Report

On July 30, 2025, the White House released a 166-page report titled “Strengthening American Leadership in Digital Financial Technology” (the “Report”).[1] Authored by a working group of cabinet members and federal agency...more

Wilson Sonsini Goodrich & Rosati

President Trump Revokes Regulations Applicable for Front-End Service Providers Facilitating Digital Asset and Cryptocurrency...

On April 10, 2025, President Trump signed into law a measure1 that repeals the final regulations relating primarily to persons who are front-end service providers that operate decentralized finance (DeFi) platforms, which...more

Haynsworth Sinkler Boyd, P.A.

New Deadlines for FINCEN Compliance Issued

The Corporate Transparency Act (CTA) introduced substantial new reporting obligations for a wide array of corporate entities. Generally, any domestic entity formed by filing documents with a secretary of state or similar...more

Holland & Knight LLP

Key Highlights of the Section 48 ITC Final Regulations

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The U.S. Department of the Treasury and IRS on Dec. 12, 2024, issued Final Regulations regarding the investment tax credit (ITC) for Section 48 of the Internal Revenue Code, including the ITC for energy generation, energy...more

Foodman CPAs & Advisors

BOI Reporting Relief for Hurricane Victims

On 10/29/24, FinCEN announced Beneficial Ownership Information (BOI) Reporting Relief to specific victims of Hurricane Milton, Hurricane Helene, Hurricane Debby, Hurricane Beryl, and Hurricane Francine. BOI Reporting Relief...more

Haynsworth Sinkler Boyd, P.A.

Navigating FinCEN Compliance: Quickly Approaching Deadlines for Businesses formed before 2024

A variety of businesses, such as LLCs, LLPs, partnerships, and corporations, formed before January 1, 2024, have until January 1, 2025, to file their initial report with the Department of Treasury’s Financial Crimes...more

Wilson Sonsini Goodrich & Rosati

Sustainability and ESG Advisory Practice Update, October 2024

We are pleased to share the October 2024 issue of Wilson Sonsini's Sustainability and ESG Advisory Practice Update. Each issue combines news, key legal developments, and resources related to sustainability and environmental,...more

Eversheds Sutherland (US) LLP

New IRS guidance expands list of preventive care benefits under a high deductible health plan

On October 17, 2024, the IRS published Notice 2024-75 (Notice), expanding preventive care benefits that can be provided under a high deductible health plan (HDHP) before an individual reaches the applicable minimum HDHP...more

Allen Barron, Inc.

The Action Cryptocurrency Investors Need to Take Immediately

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What is the action cryptocurrency investors need to take immediately? What has changed, and why should any digital asset holder or investor pay attention to this game-changing development? Here is the short answer: If you...more

Holland & Knight LLP

What's Next for the Regulatory Landscape Post-Chevron?

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For nearly 40 years and in more than 18,000 judicial opinions, federal courts have used the Chevron doctrine to defer to an agency's reasonable interpretation of an ambiguous statute. On June 28, 2024, the U.S. Supreme Court...more

Holland & Knight LLP

New FinCEN FAQ Guidance: Taxpayer ID Numbers, Disregarded Entities and Best Practices

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The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on July 24, 2024, issued two new FAQs providing guidance on 1) how to obtain a taxpayer identification number (TIN) in a manner to ensure...more

DarrowEverett LLP

IRS Targeting Partnership Basis-Shifting Transaction Schemes

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The Internal Revenue Service (“IRS,” or the “Service”) issued guidance on June 17, proposing new regulations and releasing a revenue ruling to challenge the use of basis-shifting transactions by complex partnerships. In...more

Fenwick & West LLP

Treasury’s Crypto Tax Reporting Rules Defer on DeFi

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On June 28, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) issued final broker reporting regulations that mandate broker reporting for centralized exchanges and hosted wallet providers, providing...more

Wilson Sonsini Goodrich & Rosati

Treasury and IRS Release Final Regulations Regarding Reporting Requirements for Digital Asset and Cryptocurrency Transactions

On June 28, 2024, the Department of the Treasury (the Treasury) and the Internal Revenue Service (the IRS) released final regulations (Final Regulations) relating to information reporting, determination of basis and gain or...more

Wilson Sonsini Goodrich & Rosati

Sustainability and ESG Advisory Practice Update, June 2024

We are pleased to share the June 2024 issue of Wilson Sonsini's Sustainability and ESG Advisory Practice Update. Each issue combines news, key legal developments, and resources related to sustainability and environmental,...more

Foley Hoag LLP

Treasury and IRS Propose Long-awaited Regulations for the Inflation Reduction Act’s Hydrogen Production Tax Credit (Section 45V)

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On December 22, 2023, the Department of Treasury and Internal Revenue Service (collectively, “IRS”) proposed new regulations for the Inflation Reduction Act’s (“IRA”) Hydrogen Production Tax Credit (“PTC”), otherwise known as...more

Holland & Knight LLP

Treasury, IRS Release Section 45X Advanced Manufacturing Production Credit Proposed Regulations

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The U.S. Department of the Treasury and IRS on Dec. 14, 2023, released proposed regulations regarding the Section 45X Advanced Manufacturing Production Credit of the Internal Revenue Code (Proposed Regulations). Comments to...more

A&O Shearman

Historic Penalties For Cryptocurrency Exchange’s AML-Related Violations

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On November 21, 2023, the Cayman Islands registered cryptocurrency exchange, Binance Holdings Limited (the “Company”), pled guilty to criminal violations related to allegedly failing to register as a money transmitting...more

King & Spalding

IRS and Treasury Issue Section 48 Investment Tax Credit Proposed Regulations

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Section 48 of the Internal Revenue Code of 1986, as amended (the “Code”) provides for an investment tax credit (“ITC”) for certain energy property. The Inflation Reduction Act of 2022 (the “IRA”) amended Section 48 in several...more

Vinson & Elkins LLP

Treasury Releases a Swath of Guidance on the Investment Tax Credit

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On November 17, 2023, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations [REG-132569-17] regarding the definition of “energy property” and related rules...more

BakerHostetler

Digital Asset Broker Regulations Target DeFi Platforms and Payment Processors

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The Internal Revenue Service (IRS) and the Department of the Treasury issued a 282 page notice of proposed rulemaking regarding digital assets and broker reporting on Aug. 26 (the Proposed Regulations), nearly two years after...more

McDermott Will & Schulte

Proposed Regulations From the IRS Outline Reporting Requirements for Cryptocurrency “Brokers”

On August 29, 2023, the Internal Revenue Service (IRS) published new proposed regulations on tax reporting requirements for cryptocurrency brokers. The proposed regulations build on efforts to expand IRS regulation over...more

Lowenstein Sandler LLP

Proposed Regulations Would Impose New Reporting Requirements on Transactions Involving Cryptocurrency and Other Digital Assets

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In response to a provision in the 2021 Infrastructure Investment and Jobs Act, the Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations that would impose new tax reporting...more

BakerHostetler

Court Upholds Tornado Cash Sanctions; New Crypto Products Launch; IRS Proposes Digital Asset Regulations; Crypto Enforcement and...

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District Court Upholds Tornado Cash Sanctions, DOJ Charges Founders - On August 17, a Texas federal court found that Tornado Cash, a crypto mixer (which obscures the source of crypto transactions) is an entity that can be...more

Vinson & Elkins LLP

3 Developments That May Usher In A Nuclear Energy Revival

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Nuclear energy is experiencing a resurgence. As the world grapples with how best to address climate change, nuclear has found a seat at the table as a viable, zero-carbon energy source. While the appetite in the U.S. for...more

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