What ICO Issuers and Investors Need to Know About Taxes

What ICO Issuers and Investors Need to Know About Taxes
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What ICO Issuers and Investors Need to Know About Taxes
Lisa Zarlenga is Co-Chair of the Tax Group and John Cobb is an associate at the law firm of Steptoe & Johnson. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. In the last couple years, blockchain token issuances–sometimes referred to as initial coin offerings or ICOs–have skyrocketed, both in terms of number and size. According to CoinDesk’s ICO tracker, there were 43 ICOs in 2016 raising an aggregate 6 million; that number jumped to 343 ICOs in 2017 raising in excess of .4 billion; thus far in 2018, 92 ICOs have raised in excess of billion.   Much attention has been paid to regulatory issues in connection with token issuances, including the potential treatment of tokens as securities subject to regulation by the Securities and Exchange Commission, treatment of tokens as commodities subject to regulation by the Commodity Futures Trading Commission, and treatment of issuers as money services businesses subject to regulation by the…

What ICO Issuers and Investors Need to Know About Taxes