On February 29, 2024, the U.S. House of Representatives Financial Services Committee passed a resolution (H.J. Res. 109) which, if enacted, would undo the recent US Security and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 121 (“SAB 121”). It acted under the Congressional Review Act (“CRA”), which allows Congress to use their oversight authority to overturn rules issued by federal agencies. SAB 121 requires reporting entities which perform custodial duties in relation to crypto assets…
Latest Posts
- Bipartisan Resolution Seeking to Undo SEC Guidance Regarding Bank Crypto Asset Reporting Requirement Advances Out of Committee
- To End a Lawsuit, Department of Energy Agrees to Halt its Survey Seeking Data from Crypto Miners
- The Digital Dollar, Like Seemingly Everything Else, Is A Partisan Issue
- US Prosecutors Change Tack in Bringing Straightforward Tax Evasion Charges Relating to Cryptocurrency
- U.S. IRS Puts on Hold, Pending the Issuance of Regulations, Reporting Requirements Regarding Receipt of USD 10,000 or More in Digital Assets
- SEC Gets Big Win From New York District Court Judge Holding That Certain Terraform Tokens Are “Securities”
- CoinList Pays $1.2 Million to Settle Potential Liability Arising Out of Violations of Ukraine/Russia Sanctions
- The Lesson From the Guilty Plea in First U.S. Criminal Case Involving Attack on a Smart Contract Operated by Decentralized Exchange is Don’t Be a Chazer
Recent
The Texas Blockchain Council (TBC) describes itself as a nonprofit industry association that works to make the State…
On February 26, 2024, Republican Senator Ted Cruz, along with fellow Republican Senators Bill Hagerty, Rick Scott, Ted…
We have been following for years (see here) the steps that the United States Internal Revenue Service has…
On January 16, 2024, the United States Internal Revenue Service and Treasury Department announced the delay of the…
One of the issues that we, and much of the rest of the crypto community, have been following…
CoinList Markets LLC is a currency exchange. When its customers open accounts, there is a Know-Your-Customer (KYC) process…