On March 9, 2022, the Biden Administration released its much-anticipated “Executive Order on Ensuring Responsible Development of Digital Assets”. The White House describes the Executive Order as the “first whole-of-government strategy” on digital assets and attempts to strike a balance between encouraging innovation and US leadership in the digital asset space, while signaling an appetite to protect against a variety of stated risks through additional regulation and legislation.
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Biden Administration
US Sanctions Target Russia’s Energy Sector and Ban Imports of Russian Oil, LNG, and Coal as Enforcement Efforts Increase and Agencies Consider Cryptocurrency and Other Digital Assets
By Hunton Andrews Kurth LLP on
Posted in Cryptocurrencies, Regulatory
On March 8, 2022, President Biden issued an Executive Order prohibiting the importation of Russian-origin oil, liquified natural gas, and coal into the United States and prohibiting US persons from making new investments in Russia’s energy sector. On March 9, 2022, President Biden issued an Executive Order directing US government agencies to study and report on cryptocurrencies and other digital assets and consider, among other things, the use of digital assets to circumvent US sanctions.
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Biden Administration Announces US Strategy on Countering Corruption
By Hunton Andrews Kurth LLP on
Posted in Regulatory
On December 6, 2021, the Biden administration released a first-of-its-kind, comprehensive US Strategy on Countering Corruption. The Strategy addresses all angles of the fight against corruption: prevention, investigation, exposure, and prosecution.
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President Biden’s Proposal to Enhance Cryptocurrency Information Reporting Regime on Form 1099
By Timothy L. Jacobs & Jason Feingertz on
On May 28, 2021, President Biden released some of the legislative items that would be added by his American Families Plan, which includes a provision that could impact tax information reporting for cryptocurrency asset exchanges and custodians. If enacted, this proposal could require substantial effort to implement and administer.
Continue Reading President Biden’s Proposal to Enhance Cryptocurrency Information Reporting Regime on Form 1099