The Uniform Law Commission’s model virtual currency act has been introduced in California
What this would (and wouldn’t) mean for cryptocurrency businesses in the state
In February, the Uniform Law Commission’s model act for virtual currency business licensing was introduced in the California Assembly as AB 1489. Although it is now October and the Assembly’s...
Block.one has settled and is paying a fine for doing a pre-sale of EOS as ERC20 tokens, and Nebulous has settled and is paying a fine for selling Sianotes, a...
A national alternative to onerous state-by-state regulation of cryptocurrency intermediaries
How Congress could give businesses a streamlined path to serving all US customers
Increasingly, policymakers on Capitol Hill and at federal regulatory agencies are asking us whether Congress should develop a comprehensive national regime to regulate cryptocurrencies. We have always and will always...
Don’t make these five common mistakes about blockchains and cryptocurrency.
Breaking down misconceptions about these technologies
1. There is no such thing as “the blockchain.” There isn’t just one blockchain out there. Each cryptocurrency (like Bitcoin or Ethereum) has its own unique blockchain that lists the...
On July 26, the IRS announced it was sending “educational” letters to more than 10,000 taxpayers that the agency suspects “failed to report income and pay the resulting tax from...
Coin Center travel series: Mexico City, Mexico
Cryptocurrency stands at a crossroads in a country where financial services could be improved
This is the final installment of Coin Center's multi-part travel series examining how cryptocurrency is used around the world. The final stop on the Coin Center travel series was one of...
FOIA documents reveal cryptocurrency guidance has not been a priority for the IRS
The agency’s self-imposed target date for guidance passed last week without action, now Congress is stepping in
On May 16th, in response to a letter from 21 members of Congress, IRS Commissioner Charles P. Rettig wrote, “I share your belief that taxpayers deserve clarity on basic issues...
The differences between Bitcoin and Libra should matter to policymakers
The two have different design goals, work in different ways, and raise different regulatory questions.
Recently Congress has taken a strong interest in the newly announced Libra digital currency. We have been getting many questions from policymakers and the media about how Libra (as described...
Breaking down the consumer benefits of cryptocurrencies
Internet services that use this technology for better consumer autonomy and privacy are already being built
In addition to their widely touted commercial use-cases, cryptocurrency and open blockchain technologies can significantly empower and improve the welfare of individual consumers. Because they do not offer the same...
The upcoming FATF interpretive note is not doomsday for cryptocurrency
We break down the good, the middling, and the bad.
We've had a number of people ask us about the FATF interpretive note that will be coming out this year and how it may change anti-money laundering (AML) law with...