Last month, the Treasury lifted sanctions on Tornado Cash. In response, many rekindled their calls for the Trump administration to drop the charges against Keonne Rodriguez and William Lonergan Hill, the developers of Samourai Wallet who are currently being prosecuted in the Southern District of New York. What many appear to have missed is that […]
The FAIR Act, legislation designed to protect people from civil asset forfeiture, would be a safeguard for Bitcoiners’ coins. A few weeks ago, we briefly touched on how civil asset forfeiture may apply to Bitcoin, a process in which the Government may seize citizen’s assets without accusing a person of a crime. With the US Government […]
An examination of the incentives created by structuring a Bitcoin reserve to hold seized coins with civil asset forfeiture existing. Yesterday, President Trump announced the long awaited Strategic “Bitcoin” Reserve on Truth Social, and many in the space are pissed. First, the Reserve appears to be far from Bitcoin only. “They’re doing DEI for Charles […]
A summary of the current state of the IRS Broker Rule, declaring non-custodial front-ends for smart contracts brokers for reporting requirements. Between the holidays and New Years, the IRS used the last passing days of the Biden administration to finalize its long feared Broker Rule: a regulation requiring all cryptocurrency exchanges – custodial and non-custodial, fiat to crypto […]