30 Sep 2022

The Ripple Effect of Ripple – When is a Cryptocurrency a Security?

In a landmark crypto-currency litigation case pending before the US District Court in the Southern District of New York, the Securities and Exchange Commission (“SEC”) brought an action against Ripple Labs, Inc. and its officers (“Ripple”). The crux of the SEC’s complaint is that Ripple sold unregistered securities – XRP

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28 Sep 2022

Popularity of cryptocurrency plummets among millennials in 2022

The popularity of cryptocurrencies such as Bitcoin has plummeted in 2022, particularly among their most fervent supporters – millennial investors – according to a recent Bankrate survey. Americans of all ages have seen their comfort level with cryptocurrency sink sharply over the last year, as these digital currencies have plunged

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28 Sep 2022

Ethereum Merge Vaults Cryptocurrency Past Bitcoin in Hard-Money Allure

Ethereum won plaudits and the spotlight two weeks ago for smoothly pushing through its much-hyped Merge, a historic shift to a different “proof-of-stake” blockchain system designed to drastically reduce energy consumption – roughly 99% by some estimates. Now, the second-biggest blockchain appears to be proving itself on another promise of

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27 Sep 2022

IRS steps up efforts to target U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions

The IRS continues to chase U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions with a new court order allowing a summons for customer records. The agency will issue a so-called “John Doe summons” requiring M.Y. Safra Bank to turn over crypto transaction data for SFOX, a

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26 Sep 2022

Does The Federal Reserve Regulate Cryptocurrency?

Cryptocurrencies made big news as prices skyrocketed, turning investors into overnight millionaires. When anything big happens in a financial market in the U.S., you can expect regulators won’t be far behind. Among other agencies, the crypto revolution caught the attention of the Federal Reserve, America’s central bank, and a top

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23 Sep 2022

Navigating the Uncharted Legal Territory of NFTs

Over the last two years, non-fungible tokens, commonly known as NFTs, have entered the mainstream as global brands, entertainment companies, sports leagues and others have created (or “minted”) NFTs of a variety of digital works, in many cases attached to “real world” benefits. If your company is presented with an opportunity

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22 Sep 2022

Is Ether A Security? How The Merge Reignited Questions Around Crypto Regulation

As the Ethereum merge fades into the background, and even the potential disruption caused by the ETHPoW has seemed to fizzle out, several questions have come back to forefront; how should crypto be regulated? Which regulatory agency should have the authority to decide this, and how will said regulation come

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20 Sep 2022

Nasdaq is preparing to launch an institutional crypto custody service

Equity exchange operator Nasdaq has been plotting a move into institutional crypto custody service, according to several people briefed by the company. The firm, which operates markets in U.S. and global equities, is no stranger to the cryptocurrency market, having served as a provider of market surveillance technology to cryptocurrency exchange

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19 Sep 2022

Ethereum Plunges After SEC Chair Says ‘The Merge’ Could Make Crypto a Security

Ethereum, the second largest cryptocurrency in the world, continued to plunge in price over the weekend following the network’s highly publicized technical change known as ‘the Merge’ last Thursday as well as comments from the head of the Securities and Exchange Commission that ether might need to be a treated

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15 Sep 2022

Investors say regulation needed to assuage crypto concerns

Though many public pension funds have shied away from digital assets tied to cryptocurrencies and the blockchain, some are nevertheless moving forward with small investments in this potentially transformational yet volatile sector. Last year, for example, the $5.3 billion Houston Firefighters’ Relief and Retirement Fund decided to establish a $25 million

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