Cryptocurrency and AML: What Do Institutional Bankers Need to Know?
Since its advent, cryptocurrency has served as a means for parties to conduct illicit transactions with limited oversight from federal regulators and financial institutions. The recent emergence of cryptocurrency as both a mainstream investment vehicle and means of payment has presented unprecedented challenges for federal regulators and financial institutions as...Read more
The IRS is Cracking Down on Cryptocurrency Tax Compliance in 2023
Cryptocurrency tax compliance has been a priority for the Internal Revenue Service (IRS) for several years. While the IRS has long held the position that cryptocurrency is a form of "property" for federal income tax purposes, it has failed to provide clear guidance on many cryptocurrency-related issues—including issues related to...Read more