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Think Tank Sues U.S. IRS Over Cryptocurrency Reporting Requirements

USA - June 17 2022 Washington based think tank Coin Center has brought a lawsuit against, among others, the United Sates Treasury Department and Internal Revenue…

Justice Department Responds to President Biden’s Executive Order

USA - June 15 2022 Last month we wrote about the U.S. Department of Commerce entering the cryptocurrency fray by publishing in the Federal Register a Request for…

US Commerce Department Seeks To Carve Out Role Regarding Cryptocurrency

USA - May 23 2022 We have written often about the efforts of the United States Securities and Exchange Commission (here and here) and Commodity Futures Trading…

Capital Gains From Crypto Assets a Focus Area for Australian Tax Authorities

Australia - May 18 2022 On May 16, 2022, the Australian Tax Office issued a publication that identified four key focus areas for the 2021-22 tax year. These four are areas…

BitMex Co-Founders Ordered to Pay $30 Million in Fines

USA - May 12 2022 BitMEX is one of the world’s largest cryptocurrency trading platforms. Last year, the U.S. District Court for the Southern District of New York…

Lawsuit to Recover Stolen Crypto Asserts Novel Theory Against a DAO

USA - May 9 2022 For those who have followed for some time the law that has developed around blockchain, there is a strong likelihood they associate the term DAO…

ECB Board Member’s Broadside Against Cryptocurrency

European Union - May 2 2022 On April 25, 2022, European Central Bank Executive Board member Fabio Panetta delivered a speech at Columbia University in New York in which he was…

Central African Republic Adopts Bitcoin as Legal Currency

Africa - April 27 2022 On April 27, 2022, lawmakers in the Central African Republic unanimously approved legislation that made Bitcoin legal tender. Bitcoin can now be…

ASX to List Australia’s First Bitcoin ETF

Australia - April 19 2022 We have written often about how the US SEC has, to date, refused to authorize a spot Bitcoin exchange traded fund (click here), while other countries…

FDIC Requires That Banks Notify Regulator About Their Crypto Activity

USA - April 12 2022 On April 7, 2022, the US Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (“FIL”) requiring that all…