On Friday, Coinbase, the largest U.S.-based Bitcoin exchange, notified approximately 13,000 of its customers that it would be turning over their account information to the Internal Revenue Service within 21
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Treasury Official Warns of Risks to Financial System Posed by Illicit Use of Virtual Currencies
In a recent speech, the Under Secretary of Treasury’s Office of Terrorism and Financial Intelligence (TFI) warned of the growing threats to the U.S. financial system posed by virtual
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IRS-Criminal Investigation Ramps Up Scrutiny of Cryptocurrency Transactions
The Internal Revenue Service has assembled a specialized team of criminal investigators to build criminal tax evasion cases involving users of Bitcoin and other cryptocurrencies, according to a Bloomberg article
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SEC’s Office of Compliance Inspections Releases Its 2018 Examination Priorities
Our colleagues Joshua Horn, Ernest E. Badway, and Benjamin H. McCoy have published an article about the recent release by the Securities and Exchange Commission’s Office of Compliance
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SEC’s Cyber Unit Shutters Another Alleged Initial Coin Offering Scam As Federal Cryptocurrency Fraud Crackdown Continues
Over the course of the last two months, we have witnessed a flurry of enforcement activity with respect to initial coin offerings and virtual currency fraud schemes by the Securities
Continue Reading SEC’s Cyber Unit Shutters Another Alleged Initial Coin Offering Scam As Federal Cryptocurrency Fraud Crackdown Continues
CFTC’s Virtual Currency Task Force Files Suit to Shut Down Another Virtual Currency Scam
Last week we reported on a flurry of enforcement activity by the Commodities Futures Trading Commission’s “Virtual Currency Task Force” with respect to virtual currency fraud schemes. On Thursday, January
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CFTC Continues Federal Crackdown On Virtual Currency Fraud Schemes
Yesterday the Commodity Futures Trading Commission announced two enforcement actions as part of a continuing crackdown on virtual currency fraud schemes by numerous federal agencies. (We have previously written about
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Coinbase Urges Bitcoin Users to Pay Their Taxes
Coindesk is reporting that Coinbase — the largest U.S.-based Bitcoin exchange and the subject of a recently-concluded “John Doe” summons dispute with the Internal Revenue Service — is reminding its
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SEC Continues Crackdown on Initial Coin Offerings With Cease-and-Desist Order
The Securities and Exchange Commission announced yesterday that a California-based company selling digital tokens to investors to raise capital for its blockchain-based food review service halted its initial coin offering
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SEC’s Cyber Unit Files Its First-Ever Charges to Halt Alleged Initial Coin Offering Scam
The Securities and Exchange Commission announced yesterday that its new Cyber Unit obtained an emergency asset freeze to halt a “fast-moving” Initial Coin Offering (ICO) fraud that raised up to
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