The Biden Administration’s cryptocurrency policy has taken shape over the past 3+ years amidst significant market developments and wide-ranging perceptions of the Administration’s motives and intentions for the industry. While Biden’s election in November 2020 engendered hopes of both regulatory clarity and potential industry growth
Crypto Policy and Legislation
New Crypto Tax Rules: Dynamis Quick Take
By Eric Rosen on
I. Introduction
In November of 2021, Congress passed the Infrastructure Investment and Jobs Act, which amended cryptocurrency tax reporting obligations under 26 U.S.C. § 6045. This amendment began to apply “January 1, 2023”, meaning the tax reporting obligations take effect this tax year…
Decrypting The Proposed Digital Asset Anti-Money Laundering Act of 2023
By Eric Rosen on
I. Introduction
In the rapidly evolving and novel world of cryptocurrency, legal and regulatory developments have the potential to shape the trajectory of the industry just as much as companies and consumers, if not more. The proposed Digital Asset Anti-Money Laundering Act of 2023…
The Electronic Fund Transfer Act (“EFTA”) and Crypto
By Constantine Economides on
I. Introduction
It is unclear whether and to what extent the Electronic Fund Transfer Act (“EFTA”)—which dictates rights and liabilities as to unauthorized electronic fund transfers—applies to cryptoassets and crypto transactions. The answer depends on future interpretations of various terms in the EFTA’s statutory text.