News

Accountants Ask IRS to Clarify Bitcoin Transactions’ Tax Status

The American Institute of CPAs has sent the IRS a letter to clarify tax status of small virtual currency transactions and nine other virtual currency issues, according to The Wall Street Journal. A bitcoin payment for a small purchase can have an investment gain or loss on that purchase under the IRS’s existing tax treatment. […]

Sweden Conducts Trials of a Blockchain Smart Contracts Technology for Land Registry 

The Swedish National Land Survey (Lantmäteriet) recently announced that it is conducting trials of a system that uses blockchain technology for land registration. The project, if successful, could have a major a impact on how land deals are conducted.  The Lantmäteriet, in partnership with Swedish blockchain company ChromaWay‚ consulting firm Kairos Future and telecommunications company […]

A Legal Analysis of the DAO Exploit and Possible Investor Rights

Important Disclaimer: NOTHING HEREIN IS INTENDED TO BE UNDERSTOOD AS LEGAL ADVICE. CONSULT A LAWYER QUALIFIED TO PROVIDE LEGAL ADVICE IN YOUR JURISDICTION. News broke early Friday morning that the DAO had been exploited using a code error (first described by Peter Vessenes) in the DAO software that caused the exploiter of the DAO (“Exploiter”) to be […]

Bitcoin Price Falls Beyond $550, Recovers

 Bitcoin price plunged over $100 today, dropping to a low of $546.84 on the Bitstamp Price Index (BPI). Following weeks of a surging rally that scaled to two-year highs, bitcoin price fell $100 today in a week that saw prominent bitcoin exchange Bitfinex suffer outages. The result for the EU referendum will also be revealed […]