With the April 17 deadline for filing individual tax returns just around the corner, individuals who engaged in cryptocurrency transactions during 2017 must take care to properly report them on
Continue Reading With Tax Day Looming, Don’t Overlook Reporting of Cryptocurrency Transactions
IRS Reminds Taxpayers to Report Virtual Currency Transactions
With “tax day” fast approaching, the Internal Revenue Service on Friday reminded taxpayers that income from virtual currency transactions is reportable on their income tax returns. As we have previously
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SEC Widens Investigation of Cryptocurrency Companies
The Wall Street Journal reports today that the Securities and Exchange Commission has recently issued multiple subpoenas and requests for information in a widening investigation of cryptocurrency firms.
According to
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Coinbase Notifies 13,000 of Its Customers of Upcoming Data Release to Internal Revenue Service
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
Continue Reading CFTC’s Virtual Currency Task Force Files Suit to Shut Down Another Virtual Currency Scam
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
Continue Reading CFTC Continues Federal Crackdown On Virtual Currency Fraud Schemes