US

The IRS Issues Income Tax Guidance Dealing with Cryptocurrency Hard Forks and Airdrop

The U.S. Internal Revenue Service (“IRS”) released Revenue Ruling 2019-24 on October 9, 2019 providing guidance on the U.S. income tax treatment of hard forks and airdrops of cryptocurrency.  Revenue

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Airdrop, Hard Fork, IRS, Tax, US

SEC Enjoins Telegram Token Offering

On October 11, 2019 the U.S. Securities and Exchange Commission announced that it has filed an emergency action and obtained temporary restraining order against two offshore entities conducting an alleged

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ICO, SEC, US

CFTC Says Ether is a Commodity

Last December, the Commodity Futures Trading Commission (CFTC) issued  a public call for feedback to “better inform the Commission’s understanding” of the Ethereum network and the cryptocurrency ether.  The CFTC said input

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CFTC, Commodity, Ether, US

SEC Digital Asset Guidance a Boon For Investors Claiming XRP is Unregistered Security

A group of investors in Ripple’s cryptocurrency XRP filed an amended complaint exploiting recent guidance published by the Strategic Hub for Innovation and Financial Technology (FinHub) of the U.S. Securities

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Litigation, Ripple, SEC, Securities, US

Crypto Exchange Startup Seeks SEC Approval for Initial Public Offering of Security Tokens

Crypto exchange startup INX Limited filed a preliminary prospectus outlining its plans to raise between $5 million and $129.5 million

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IPO, Securities, US

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

SEC Fines SimplyVital for Unregistered ICO

On August 12, 2019, the U.S. Securities and Exchange Commission announced settled charges against a New England-based blockchain company for

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ICO, SEC, Simple Agreements for Future Tokens (SAFTs), US

SEC Obtains TRO Against Organizer of “Fraudulent” ICO

On August 13, 2019, the U.S. Securities and Exchange Commission announced on fraud charges against a Brooklyn individual and two

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ICO, SEC, Temporary Restraining Order (TRO), US

SEC and FINRA Issue Joint Statement on Broker-Dealer Custody of Digital Asset Securities

On July 8, 2019, the staffs of the U.S. Securities and Exchange Commission’s Division of Trading and Markets and the

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Cryptoassets, FINRA, SEC, SIPA, US

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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