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Full-Text Articles in Law
Taxing Bitcoin And Blockchains—What The Irs Told Us (And What It Didn’T), David J. Shakow
Taxing Bitcoin And Blockchains—What The Irs Told Us (And What It Didn’T), David J. Shakow
All Faculty Scholarship
The IRS recently issued its second description of how it will treat Bitcoin and other blockchain assets. Some of its analysis leaves open questions that invite further consideration, and important issues remain unresolved. Moreover, because the popular Bitcoin blockchain uses a "proof of work" consensus procedure, issues relating to the alternative "proof of stake" procedure have been neglected.
Embrace The Sec, Usha Rodrigues
Embrace The Sec, Usha Rodrigues
Scholarly Works
Securities law traditionally only permits corporations that have registered with the Securities and Exchange Commission (SEC) and completed an initial public offering (IPO) to sell equity to the general public—often a long, expensive process. Initial coin offering (ICOs) emerged in 2013 as a fundraising tool for non-public blockchain-based companies to raise billions of dollars while circumventing the SEC and public offering process altogether. But their early success brought the attention of the SEC, and in 2017 the SEC asserted the right to regulate ICOs. Since then, U.S. ICO promoters have struggled to avoid the SEC’s assertion of jurisdiction, contorting their …