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Tax Day has come and gone, but the work is far from over.
Last year, we discussed the NFT-related criminal charges filed against Nathaniel Chastain, OpenSea’s former product manager.
The U.S. Securities Exchange Commission (the “SEC”) seems to have come out of the gate storming in the first quarter of 2023 with its enforcement actions and proposed rules that have changed (or will change) the crypto world fundamentally.
On April 21, 2023, the Internal Revenue Service (IRS) released a Chief Counsel Advice memorandum (ILM 202316008), concluding that a protocol upgrade to the consensus mechanism of a cryptocurrency blockchain that did not result in the issuance of new tokens (or coins) did not result in gain, loss or other income to a taxpayer who held cryptocurrency native to that blockchain.
There’s a South Park episode about Kyle being kidnapped by Apple after agreeing to an iTunes user agreement without reading it, and forced to being a part of the HumancentiPad (a play on B-level cult horror movie Human Centipede).
Against a backdrop of near-daily enforcement actions and constant regulatory changes, Montana inched into the fray by publishing a letter calling on money transmitters to make a submission to the Montana Department of Banking of Administration, Banking & Financial Institutions (the Department).
Amidst the increase in fraudulent NFT transfers, the American legal system has taken steps towards recovering stolen assets.
On Feb. 23, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively, the Agencies) issued a joint statement (Joint Statement) that highlights liquidity risks crypto-asset-related (CAR) funding sources pose to banking organizations and provides some effective practices to manage such risks.
With litigation heating up in the NFT space, industry stakeholders are seeking to define whether digital assets such as utility tokens and certain tokens relating to decentralized autonomous organizations (DAOs), are securities, and therefore subject to federal securities laws.
With the rise of new technology such as blockchain, the digital assets supported by it, like NFTs, and the concomitant increase in NFT litigation, we are witnessing how courts are grappling with how to apply existing laws to these new forms of technology.
Most employment-based permanent residency applications require the applicant to go through the PERM labor certification process where the U.S. Department of Labor (DOL) certifies that there are not sufficient U.S. workers able, available, and qualified to fill a position.
On May 18, 2023, the United States Supreme Court issued its long-awaited decision in Andy Warhol Foundation for the Visual Arts, Inc. v. Goldsmith, a case that presented the Court with an opportunity to bring clarity to the often highly subjective standards lower courts apply when deciding the issue of fair use of visual works of art under copyright law.
It is more important than ever that employers understand the serious long-term, non-monetary consequences of settling or accepting Occupational Safety and Health Administration (OSHA) citations.
A new Washington law regulating employers’ use of production quotas or production standards for employees working at warehouse distribution centers (House Bill 1762) will go into effect on July 1, 2024.
As a part of the Consolidated Appropriations Act, 2023 (CAA), Congress passed new exceptions to the Physician Self-Referral Law (Stark Law) and the federal Anti-Kickback Statute (AKS) allowing certain healthcare entities to provide mental health or behavioral health improvement and/or maintenance programs to physicians and other clinicians.
On May 17, 2023, the Texas Senate approved Senate Bill No. 14 (SB 14), prohibiting physicians from providing gender-affirming medical care to minors experiencing gender dysphoria (distress that results from having one’s gender identity not match one’s sex assigned at birth).
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