A China-based issuer settled SEC charges for violating the antifraud provisions of the Securities Exchange Act and certain reporting, recordkeeping and internal control requirements.
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The Internal Revenue Service proposed crypto broker reporting regulations.
Senators Warren (D-MA), Casey (D-PA), Blumenthal (D-CT) and Sanders (I-VT) warned Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel that they were "at risk of failing to meet their congressionally-mandated deadlines for implementation of a final rule to prevent crypto tax evasion."
In recent analysis, Fried Frank Partner Jason Schwartz addressed the IRS's recently issued notice confirming that consensus-layer staking rewards are taxed at fair market value when the staker has dominion and control over them.
Senate Finance Committee Chair Ron Wyden (D-OR), and Ranking Member Mike Crapo (R-ID) posed policy questions to members of the digital asset community "to better understand how Congress can address the tax challenges and opportunities presented by digital assets." Both legislators emphasized the need for clear guidance.