LexisNexis® Legal Newsroom
Bankruptcy Judge: Bitcoin CEO Must Come to the United States to Be Deposed

DALLAS — (Mealey’s) The federal bankruptcy judge presiding over the Chapter 11 case of bitcoin exchange operator MtGox Co. Ltd. today ordered the company’s CEO to fly to the United States from Japan to be deposed, a source told the LexisNexis Bankruptcy Report ( In Re: MtGox Co. Ltd...

Regulators Try to Get a Handle on Bitcoin

by Korey Clark Although cryptocurrencies, most notably bitcoin, have been around for a few years, they've been of interest mainly to tech-savvy libertarians and investors with low aversion to risk. Few state lawmakers have devoted much attention to them. But that isn't likely to last with...

Bitcoin Is Property, Not Currency, IRS Says – Notice Leaves Many Open Questions About Convertible Virtual Currencies

by Joseph H. Langhirt , David Plewa , and Michael Greenberg The Internal Revenue Service has joined several other jurisdictions in publishing guidance regarding the income tax consequences of certain convertible virtual currency transactions.[ 1 ] IRS Notice 2014-21[ 2 ] clarifies that existing general...

Elusive Bitcoin: Regulation of Bitcoin in the U.S. Part I

The phenomenon of Bitcoin (and virtual currency in general) presents an interesting legal conundrum. It is still not clear for many where does Bitcoin fit within our legal system, and whether and how to regulate it. Today, I would like to take a closer look at the Bitcoin network, the recent legal developments...

Alt-Currency: What Bitcoin Means for Banking

Cosmologists argue that we live in a multiverse. Granted, it’s only a theory, but it’s a plausible one that’s strengthened by new evidence supporting decades-old scientific reasoning. Even though we may never be certain if ours is just one of many or even countless parallel universes...