‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCrypto Lawyers Andrew Hinkes, Justin Wales Join Fintech Practice at Miami’s K&L Gates – CoinDesk
The crypto industry has grown to a point where lawyers representing businesses in the sector must tap an increasing number of global resources, said Andrew Hinkes, a prominent lawyer in the space. Hinkes and a colleague, Justin Wales, have joined global law firm K&L Gates, after a combined 11 years as counsel at Carlton Fields, […]
Bitcoin Backers Losing Hope in Washington Amid Ransom, Volatility – Bloomberg
Just a few months ago, crypto enthusiasts were hopeful that Washington was warming to digital assets. But cyberattacks demanding Bitcoin ransoms, wild trading and rebukes from regulators have eroded their optimism. The timing couldn’t be worse. Policy makers are poised to make a number of critical rulings on virtual tokens in the coming months — […]
Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation – WSJ
The top global standard setter for banking regulation proposed a strict new rule that would require banks to essentially set aside a dollar in reserves for every dollar of bitcoin they own. The Basel Committee for Banking Supervision, a group of global central bankers and regulators, announced the plan Thursday in a public consultation about […]
Cryptocurrency Exchanges Need Direct Regulation, SEC Chair Says | Barron’s
Gensler said the SEC is working on guidance for crypto custody, and then said that he thinks exchanges need more direct oversight. He added that “only Congress that could really address it.” “Right now the exchanges trading in these crypto assets do not have a regulatory framework, either at the SEC or our sister agency, […]
The SEC’s Cryptocurrency Confusion – WSJ
Mr. Gensler may have signaled his openness to the proposal Wednesday by saying he’d “work with fellow commissioners and see how we can move forward.” A next step for the SEC should be to recognize the harm of its current ad hoc approach. Investors and developers deserve to know whether their actions in the market […]
China Creates its Own Digital Currency, a First for Major Economy – WSJ
A thousand years ago, when money meant coins, China invented paper currency. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power. It might seem money is already virtual, as credit cards and payment apps such as Apple Pay in the U.S. and WeChat […]
Coinbase gets all-clear from SEC, setting stage for landmark crypto listing | Reuters
Coinbase Global Inc, the largest U.S. cryptocurrency exchange, has received approval from the U.S. Securities and Exchange Commission (SEC) to list its shares on the Nasdaq, paving the way for what will be a landmark victory for cryptocurrency advocates. The company, which plans to go public through a so-called direct listing, expects to list its […]
Registration of Commodity Brokers-Dealers, Salespersons, and Investment Advisors Doing Business Relating to Virtual or “Crypto” Currency–NYAG
New York Attorney General Letitia James issues this alert to remind industry members that people and entities dealing in virtual or “crypto” currencies that are commodities or securities in the state of New York, and who do not qualify for an exemption, must register with the Office of the Attorney General. Failure to do so […]
IRS is ‘setting the trap’ for bitcoin and virtual currency investors on 2020 tax form
The Internal Revenue Service (IRS) is making it harder for taxpayers to conceal cryptocurrency transactions — whether intentionally or not — by adding a new question about it near the top of the new Form 1040. Source: IRS is ‘setting the trap’ for bitcoin and virtual currency investors on 2020 tax form