The Virtual Currency Tax Fairness Act was introduced by Senator Ted Budd and cosponsored by Senators Kyrsten Sinema, Kirsten Gillibrand, and Cynthia Lummis. The bill creates a sensible de minimis...
It’s an unfortunate habit, but federal agencies tend to announce enforcement actions and rulemakings at the end of the day on Fridays, especially Fridays before a holiday. For crypto, last...
The Terrorist Financing Prevention Act threatens crypto freedom with new sanctioning powers. Here's why it needs urgent revisions before moving forward.
A version of the Terrorist Financing Prevention Act (TFPA) has been attached to a must-pass intelligence authorization bill in the Senate. We have not written about the TFPA before because,...
A bill was introduced in Congress which would clarify that taxes on block rewards are not due at the time of acquisition, but instead upon their sale or disposition. The...
Sudden DOJ charges against non-custodial wallet developers challenge long-standing U.S. policy on money transmission. It is regulation by criminal enforcement.
It has been the clear and consistent policy of the U.S. government since at least 2013 that cryptocurrency wallet developers and the users of those wallets are not money transmitters....
While aiming to regulate stablecoins like Terra, the Lummis-Gillibrand bill potentially stifles innovation and breaches First Amendment rights by banning all algorithmic models.
Sens. Cynthia Lummis and Kirsten Gillibrand this week introduced a bill to create a regulatory framework for stablecoins, which is a laudable endeavor. Unfortunately that bill also includes a complete...
We wish you all a very happy new year! Unfortunately, the new year also brings a new law that is not only unconstitutional but also virtually impossible to comply with...
This week, the U.S. Department of the Treasury sent a letter to the heads of the Senate Banking and House Financial Services Committees following a briefing on how Hamas and...
Today we’re publishing another report on the Bank Secrecy Act (BSA) entitled “Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act.” In our 2019 report, “Electronic Cash, Decentralized...
Today Coin Center submitted a comment letter in the Treasury Department’s ongoing rulemaking on the definition of “broker” for third-party tax reporting purposes. In brief, we argue that the definition...