Allyson Versprille

"Proof of reserves is neither a full accounting of the assets and liability of a company, nor does it satisfy segregation of customer funds under the securities laws," said SEC chair Gary Gensler.

The crypto exchange exec landed in the U.S. to face a range of criminal charges just as two of his long-time associates said they were cooperating with prosecutors.

According to the lawsuit, Michael Saylor avoided paying taxes since 2005 by fraudulently claiming to be a resident of lower-tax jurisdictions, including Virginia and Florida.

Legislation introduced by a mix of Republicans and Democrats would exempt the firms from being considered cryptocurrency "brokers."

The Treasury and the IRS are likely to push off a January date for firms to begin tracking data such as customers’ capital gains and losses.

The legislation is one of the most ambitious attempts to regulate the volatile asset class.

The chair said his agency and the top U.S. derivatives regulator should work together to rein in cryptocurrency exchanges.

A growing number of trading platforms are safeguarding digital assets for their users and maintaining the cryptographic keys necessary to access the tokens.

They are the latest target of probes into whether Opportunity Zones are driving investment and job creation in low-income communities.

The bill will cover a range of issues, including banking, taxes, privacy and consumer protection.

The president is directing government agencies to focus more on the fast-growing crypto market, from researching a U.S. digital dollar to combating illicit finance.

Crypto miners and stakers will be exempt from rules requiring digital-asset brokers to turn over information on their clients’ transactions to the IRS.

There may be a silver lining for crypto investors selling at huge losses during the recent market turmoil.

IRS investigators say the frauds including money laundering, market manipulation and tax evasion — and even celebrities could get caught up in the agency’s probes.

It’s one of the hottest corners of crypto — and now the U.S. government wants its share of the profits.

The Biden administration is poised to specify which cryptocurrency firms will be forced to report reams of customer data to the Internal Revenue Service, said people familiar with the matter.

The service seized $3.5 billion worth of cryptocurrencies during fiscal 2021, according to an IRS criminal investigation annual report

Cryptocurrency investors would have little time to plan against possible tax increases under legislation advancing in Congress.

The president’s tax agenda, crafted by experts who worked on the proposals for years and wrote books about their ideas, is getting a wholesale revamp as Democrats battle to find a program their caucus can unite behind.

Financial institutions aim to stop a measure that would require banks to hand over some account information to the IRS.