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Further, serious consideration should be given to excluding digital assets outside of the investment context. . For example, as the IRS itself recognizes, many non-fungible tokens (NFTs) simply offer “ownership or license interests in artwork or sports memorabilia” analogous to physical souvenirs. So the IRS should limit reporting requirements for
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A senior People’s Bank of China (PBOC) official has urged regulators to consider cryptocurrency risks and fraud that could lead to bank failures when innovating regulation. The Chinese official highlighted the recent collapse of U.S. banks that provided services to crypto customers as an example. “The regulation philosophy, technology, and
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The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to
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