India Announces a New National Framework for Blockchain

In a letter published in November 2019, Sanjay Dhotre, India’s Minister of State for Electronics and Information Technology (MeitY) , stated that the Indian government is developing a National Level

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Cryptocurrency, Distributed Ledger Technology, India

IRS Official Confirms that Pre-2018 Exchanges of One Cryptocurrency for Another May Be Eligible for Like-Kind Exchange, Income Tax Deferral Treatment

Historically, U.S. tax law has allowed a taxpayer to exchange one investment property for another and defer the income tax consequences of that exchange so long as both the relinquished

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Cryptocurrency, IRS, Tax, US

Taxing Cryptocurrencies in the UK: New Guidance

The UK tax authority, HM Revenue & Customs (“HMRC”), published, on November 1, 2019 guidance for companies and businesses on how tax transactions involving cryptoasset exchange tokens (such as Bitcoin)

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Cryptocurrency, Tax, UK

Ukraine Focuses on Promoting a Blockchain Friendly Ecosystem

A number of recent developments in Ukraine have demonstrated the country’s focus on promoting a blockchain friendly ecosystem. At a government level, the recently established Ministry of Digital Transformation (MDT)

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Cryptocurrency, Ukraine

Swiss Bankers Association Publishes Updated Guidelines on Opening Banks Accounts for Companies with a Nexus to Distributed Ledger Technology

On August 20, 2019, the Swiss Banking Association (“SBA”) released guidelines for member banks (in German with Italian, French and

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AML, Banking, Cryptocurrency, KYC, Switzerland

Burundi Bans Cryptocurrency

The Bank of The Republic of Burundi issued a statement in which it banned the use of cryptocurrencies in the

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Burundi, Cryptocurrency

Marshall Islands To Issue Its Own Cryptocurrency

In 2018, the Marshall Islands passed a Sovereign Currency Act, declaring its intention to release a new, national digital currency. 

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Cryptocurrency, Marshall Islands

IRS Begins Notifying Owners of Cryptocurrency of Potential Failures to Report Income and Pay Taxes

In July, the IRS announced that it had begun sending letters to taxpayers who may have failed to properly report

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Cryptocurrency, IRS, US

Texas Renews its Cryptocurrency Crackdown

Texas has been one of the more active states in the United States when it comes to cryptocurrency enforcement.  The

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Cryptocurrency, Texas

Class Action Against Crypto Mining Scheme Moves Forward

On June 21, 2019 a Connecticut federal judge certified a class of alleged victims of a cryptocurrency mining Ponzi scheme. 

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Class Action, Cryptocurrency, Litigation, US
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