Last month accusations emerged that an executive at OpenSea, a leading Non-Fungible Tokens (NFT) sales platform, was possibly front-running sales by buying drops before they were listed on OpenSea’s main page and then selling them after they had been publicized by OpenSea. Such use of insider information, if true, would seem to be a classic violation of securities laws … [Read more...] about NFTs, Securities Fraud, and Insider Trading, Oh My!
Every year FINRA issues a new regulatory notice regarding the reporting of activities involving digital assets and every year we see FINRA-regulated entities run afoul of those reporting requirements. Why? Because the FINRA reporting requirements are much broader than most people within the brokerage and exchange community realize and much broader than is practically necessary. … [Read more...] about New FINRA Reporting Requirements for Digital Assets
The Biden administration has been seeking changes to tax-reporting requirements for cryptocurrency since its early days. This is part of a package of changes to tax-reporting requirements the Biden administration is seeking as a means of cracking down on supposed misreporting of business income and general tax non-compliance. A New Reporting Regime Generally, the Biden … [Read more...] about Upcoming Changes to Tax-Reporting Requirements for Cryptocurrency Transactions
As New York Times columnist Paul Krugman noted in a recent column, blockchain is now a bit long -in-the-tooth as far as internet technologies go. Bitcoin was launched in 2009, and over the past decade-plus, countless alt-coins have hit the market. However, as tokens have become more mainstream, as well as an increased tool for ne’er-do-wells, cries to regulate the cryptospace … [Read more...] about Crypto-Currency Regulation-Where Have We Been, Where Are We Going?