A look at the not-yet-public crypto legislation slated for inclusion in the Trump megabill.

Airdrops by US companies could subject the US companies to US withholding and tax reporting liability.

A look at the wash sale rules and why they should not be expanded to apply to crypto.

TD 10021 would treat websites as brokers with 1099 reporting obligations. The regulations are arbitrary and capricious, and should be withdrawn.

I can tell TaxTwitter is confused about crypto basis determinations. The rules are confusing and a lot of the putative news floating around is wrong (as usual). This thread summarizes the current state of play in 7 short posts. Post 7 provides the carefree option that I personally use.

On Friday, Treasury and the IRS issued "part 2" of the crypto broker reporting regs. This post summarizes the regs.

Have you seen a lot of noise on your timeline saying you have to do something by Jan 2025 or else your crypto basis reporting will be messed up? Guess what: that noise is probably wrong.

On Monday, a court in the Northern District of California denied a motion to dismiss a lawsuit against LidoDAO. https://courtlistener.com/docket/68095676/115/samuels-v-lido-dao/ A lot of smart people have already said a lot of stupid things about the decision, so it's my turn. First, this is a ruling on a motion to dismiss, which means the judge had to accept the plaintiff's allegations as factually accurate. Now read the highlighted language below. Plaintiff alleges LidoDAO has a deliberatel...

Every crypto lawyer should be thinking about and socializing what the top legislative asks of their practice would be from the incoming Trump administration. Here are some US tax asks. I am open to hearing others. (Originally published as a Twitter thread.) KILL DEFI & NFT BROKER REPORTING. Congress should amend section 6045 of the tax code to clarify that crypto brokers include only brokers in the traditional sense, not front ends, relayers, and other participants in the decentralized tech s...

Some thoughts on US tax law and so-called RWAs. In short, there are significant US tax impediments to putting RWAs onchain in bearer form...