Between the Lines Blog

Search Posts

Search

View All Posts

View Monthly Top 10

View By Category

Archive

Crypto and Compliance
Category: Anti-Money Laundering , Virtual Currencies, Assets and Blockchain Technology
A digital asset trust company entered into a consent order with the Office of the Comptroller of the Currency (“OCC”) on Thursday for failing to have the appropriate anti-money laundering and Bank Secrecy Act compliance protocols in place. Anchorage Digital Bank, N.A. (“Anchorage”) neither…
Read Full Post »
The Progression of Cryptocurrency
Category: Virtual Currencies, Assets and Blockchain Technology
On March 8, President Joe Biden directed federal agencies to coordinate their efforts at drafting cryptocurrency regulations in a first-of-its-kind executive order. According to a fact sheet accompanying the order, the “whole-of-government” effort to regulate the crypto industry focuses on six key…
Read Full Post »
The Utility and Risks of Cryptocurrency
Category: Virtual Currencies, Assets and Blockchain Technology
Cryptocurrency is gaining rapid global adoption, and businesses are beginning to explore its integration into their accepted digitally based payments. But what exactly is it, how are businesses using it and what are the risks? Here’s an overview. Cryptocurrency, also known as crypto, is a digital…
Read Full Post »
Congress Continues it's Pursuit of Regulatory Control Over Cryptocurrencies
Category: Anti-Money Laundering , Legislative Updates, Virtual Currencies, Assets and Blockchain Technology
The Commodity Futures Trading Commission (“CFTC”) chairman, Rostin Behnam, asked Congress on Wednesday to authorize his agency to regulate certain cryptocurrencies. Using potential gaps in authority to regulate trading and overlapping jurisdiction with the Securities and Exchange Commission (“SEC”)…
Read Full Post »
IRS Provides Guidance for Cryptocurrency Stakers and Miners
Category: Anti-Money Laundering , Litigation, Tax , Virtual Currencies, Assets and Blockchain Technology
An IRS decision related to taxes on staking rewards could have large implications for how proof-of-stake miners and stakers are taxed in the future. On May 26, 2021, a Tennessee couple sued the IRS seeking a refund for taxes they paid on Tezos tokens earned through staking. As explained in their…
Read Full Post »
< Newer Page 1/2 Older >
The Between the Lines blog is made available by Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C. and the law firm publisher. The blog site is for educational purposes only, as well as to give general information and a general understanding of the law. This blog is not intended to provide specific legal advice. Use of this blog site does not create an attorney client relationship between you and Mitchell Williams or the blog site publisher. The Between the Lines blog site should not be used as a substitute for legal advice from a licensed professional attorney in your state.