Start planning with our FREE 2024 Crypto Tax Playbook
The advent of cryptocurrencies like Bitcoin and Ethereum has created new legal gray areas. Blockchain technology enables peer-to-peer transactions without third party intermediaries like banks. However, this disintermediation places cryptocurrency outside existing financial regulations.
Potential legal issues include:
Our team specializes in nascent blockchain and cryptocurrency law. We track evolving government policies and regulations around the world. Our lawyers stay on top of how crypto innovations fit within existing legal frameworks.
Our firm’s cryptocurrency legal team has over 15 years combined experience specifically with crypto assets and blockchain technology.
We have advised crypto exchanges and ICO projects on compliant launches. Our lawyers have also represented victims of crypto fraud and homeowners in NFT property title disputes.
Select case examples:
“They equipped me with the legal confidence to stand up to the IRS auditor questioning my crypto trading income. I ended up owing nothing instead of six figures in taxes.” – John D., Crypto Trader
“Their blockchain expertise was invaluable for negotiating with the title office. We got the home recorded properly as an NFT deed in the end.” – Mary W., NFT Property Buyer.
We offer a complimentary 30 minute phone call to introduce our legal services focused on cryptocurrency and blockchain technology.
On this call we can:
To schedule your free consultation with our crypto legal team, visit our Calendly page or contact us at:
Common reasons clients work with us for cryptocurrency legal help include:
Additionally, our firm has extensive experience with:
For multi-national organizations, we can tap our network of global crypto legal partners as needed.
Laws and Regulations Around Crypto by Country
Cryptocurrency regulations vary widely across different countries. We maintain specialized regional legal talent to advise on country-specific laws.
North America
The cryptocurrency policy landscape continues evolving quickly in the United States and Canada:
Talk to one of our North American resident partners for updated guidance on legal considerations in your jurisdiction.
Europe
The European Union takes an relatively open approach toward cryptocurrency:
Connect with one of our EU-based legal advisors for more information on blockchain regulations across Europe.
Asia
Asian countries take a more restrictive stance:
Discuss your Asia-centric crypto activities with one of our advisors in the region.
Q: Does crypto require specialized legal representation versus tradition financial assets?
A: Yes – blockchain technology creates fundamentally new legal considerations that most lawyers are not equipped to address. Our cryptocurrency legal team stays on top of the fast evolving landscape.
Q: What can be done if I was the victim of fraud involving cryptocurrency?
A: Unfortunately fraud recovery can be very difficult for certain crypto cases since transactions are irreversible. However all legal options should still be explored. We can analyze transactions, trace funds, and pursue legal action if identifiable parties are liable.
Q: Could minting NFTs put me at risk of intellectual property lawsuits?
A: Creating NFTs can absolutely expose you to IP disputes or allegations of infringement. Our lawyers can perform clearance investigations for NFT projects to fully vet rights ownership. We also defend clients accused of infringing IP with their blockchain activity.
Q: Do you advise institutional clients on legal considerations around crypto investments?
A: Yes – we work extensively with asset managers, hedge funds, private equity firms and other institutional investors providing legal guidance, risk analysis and due diligence services associated with crypto assets. Learn more about our suite of institutional crypto investment services.
See also: When do Cryptocurrencies Violate Securities Laws? Legal Guidelines for Token Sales
Let me know if you would like me to develop any area of this blog post further or have additional questions!
Cryptocurrency tax obligations are complex, with rules that vary significantly across different countries. Below we cover some of the most common areas where clients need guidance on crypto tax planning and compliance:
Crypto Tax Basics in the United States
In the US, the IRS treats virtual currencies like bitcoin as property for federal tax purposes:
Our free consultation callfree consultation call allows you to ask our crypto certified public accountants (CPAs) any tax questions related to your virtual currency transactions.
Cryptocurrency Tax Reporting Requirements
US taxpayers with crypto activity have expanded reporting responsibilities:
We can handle preparing and filing any complex cryptocurrency tax reports with the IRS so you maintain compliance.
DeFi & Yield Farming Tax Implications
Decentralized finance (DeFi) adds additional cryptocurrency tax complications:
Our DeFi experts can manage your token tax reporting, including integrating directly with wallets and chains to import raw data.
Cryptocurrency Tax Planning Opportunities
Proactive crypto tax planning is crucial given shifting policies and confusing guidance from the IRS:
Let us optimize your cryptocurrency taxes through legal tax minimization strategies.
I can continue expanding this or other sections around legal considerations of cryptocurrency – let me know what other topics would be helpful to cover in depth!
Onchain Accounting stands as your vigilant financial co-pilot, ensuring compliance and peace of mind.
© 2024 Onchain. All rights reserved.
Disclaimer: The logos on this website are copyrighted and registered trademarks of their respective owners. They are used for demonstration purposes only and do not imply endorsement.