02/06/2018
Are you intrigued by virtual currency? Expect a fluid and dynamic regulatory environment at the federal and state level.
For example, the U.S. Commodity Futures Trading Commission has already brought three enforcement actions alleging fraud against virtual currency companies in 2018. Legal issues abound...Will Bitcoin and other cryptocurrencies be considered securities like stocks? What steps will the IRS take to ensure that taxpayer gains are reported?
Provisions for digital accounts may be made in Power of Attorney and estate planning documents pursuant to New York State statutes.
Hackers draining online exchanges. Ponzi schemes. Regulators unable to keep up with heightened interest in virtual currencies. A young industry’s problems have become clearer in recent weeks.