Recent John Doe summonses show the IRS is expanding its use of those summonses to aggressively investigate potential tax evasion. Within the past week, the IRS has received authorization to use a John Doe summons to request information from a cryptocurrency exchange. The government has also filed petitions in federal court seeking authorization to allow the IRS to serve John Doe summonses on MoneyGram Payment Systems, Inc. and other entities that may have information regarding…

Non-fungible tokens (NFTs), which can be used as a medium for art, music, video clips, trading cards, and other collectibles have recently become hot investments. Although no state tax agency has specifically announced that NFTs are subject to sales and use tax yet, some states already have the statutory framework in place to impose their sales tax on NFTs. Furthermore, selling NFTs to a buyer in a different state could result in a state income…

On Wednesday, April 7 from 12-1:30 p.m. EDT, please join Greenberg Traurig, the Hon. E. David Burt, JP, MP, Premier of Bermuda, the Chamber of Digital Commerce, and the Bermuda Monetary Authority for an engaging series of discussions on how Bermuda is fast-tracking innovation, policy, and regulation for digital assets. The program will include: Introduction by the Chamber of Digital Commerce Fireside chat with the Hon. E. David Burt, JP, MP, Premier of Bermuda Overview…

On Feb. 18, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a $507,375 settlement with BitPay, Inc., an Atlanta-based payment processing company that enables merchants to accept digital currency, for more than 2,100 apparent violations of U.S. economic sanctions. The settlement serves as a timely reminder to all companies engaged in digital currency transactions – whether administrators, exchangers, or technology companies and other business that accept digital currency –…

.@GT_Law's Blockchain & Digital Assets Group highlights 10 trends to expect in 2021, read them here: https://t.co/vQ6bHSctAG #blockchain #2021trends pic.twitter.com/58jkAzb0rK — GreenbergTraurig LLP (@GT_Law) January 14, 2021 Read the full article here.…

On Dec. 18, 2020, the U.S. Department of the Treasury, Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (NPRM) that would impose on banks and money services businesses (MSBs) new recordkeeping, reporting, and identity verification requirements for certain transactions involving convertible virtual currency (CVC) and digital assets with legal tender status (LTDA) held in “unhosted wallets,” i.e., wallets not hosted by a financial institution, or “otherwise covered wallets,” i.e., wallets held at a financial…

NEW YORK – Dec. 11, 2020 – Global law firm Greenberg Traurig, LLP was ranked in the legal category of Chambers and Partners’ 2021 FinTech Guide in the U.S., Japan, Mexico, and Poland jurisdictions. The following shareholders were recognized in the 2021 FinTech Guide in the following jurisdictions: Carlos R. Garduño: Mexico Koichiro Ohashi: Japan Arturo Pérez-Estrada: Mexico In addition, the following shareholders were listed as notable practitioners: Viola Bensinger: Berlin Michał Fereniec: Warsaw Barbara …