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On Sept. 18, 2023, the New York State Department of Financial Services (NYDFS) issued a press release announcing updates to its ongoing oversight of the digital asset space, including (1) industry guidance regarding a “General Framework for Greenlisted Coins
On Aug. 29, 2023, the U.S. Court of Appeals for the District of Columbia Circuit (Court) vacated the U.S. Securities and Exchange Commission (Commission)’s denial of Grayscale Investments, LLC (Grayscale)’s application for a spot bitcoin exchanged-traded product (ETP). The unanimous
On Aug. 28, 2023, the Securities and Exchange Commission (Commission) charged Impact Theory, LLC, a media and entertainment company, with violating Sections 5(a) and 5(c) of the Securities Act of 1933. These allegations stem from the alleged sale of around $29.9
On Aug. 25, 2023, the Internal Revenue Service (IRS) and the Treasury Department issued proposed regulations (the Proposed Regulations) regarding the sales or exchanges of digital assets, including cryptocurrency. The Proposed Regulations relate to both information reporting requirements
Digital assets are an increasingly important part of modern society. That was the conclusion the UK Law Commission reached in its final report on digital assets that was published recently following a year-long consultation. In addition, the Law Commission observes
To address the tax implications for taxpayers who stake cryptocurrency on a proof-of-stake blockchain and receive validation rewards, on July 21 the Internal Revenue Service (IRS) issued Revenue Ruling 2023-14.
On July 13, 2023, in a highly anticipated decision for the cryptocurrency industry, a Southern District of New York court granted in part and denied in part the parties’ cross motions for summary judgment in SEC v. Ripple Labs, Inc.,
In what appears to be a case of first impression, a federal district court has held that a decentralized autonomous organization (DAO) is a person subject to the provisions of the Commodity Exchange Act, as amended (CEA), and rules and
National Futures Association (NFA) is the self-regulatory organization for the U.S. futures and derivatives industry and derives its authority as a registered futures association by designation from the Commodity Futures Trading Commission (CFTC). On March 29, 2023, NFA adopted Compliance
On May 17, 2023, Prometheum Ember Capital LLC (Prometheum Ember Capital), a subsidiary of Prometheum Inc., received approval from the Financial Industry Regulatory Authority (FINRA) to operate as a special purpose broker-dealer (SPBD) for digital assets. Prometheum Ember Capital is
