As we discussed in our posting at the end of 2020, “SEC Focus on SPACs“, special purpose acquisition companies (SPACs) have become an important investment vehicle and source of M&A activity and the focus of heightened  attention from the SEC staff.  SPAC transactions include initial public offerings and

On October 9, 2019, the Internal Revenue Service (“IRS”) issued guidance relating to cryptocurrencies in the effort to educate taxpayers about their tax obligations with respect to transactions involving digital assets.1 This is the first comprehensive guidance the IRS has provided since 2014, when the IRS issued Notice 2014-12,

On April 18, 2019, the Financial Crimes Enforcement Network (“FinCEN”) announced1  a civil monetary penalty against an individual for operating a peer-to-peer virtual currency exchanger. FinCEN assessed a $35,350 civil monetary penalty against Eric Powers of Kern County, California for willfully violating registration and reporting requirements under the Bank

The SEC recently proposed allowing all issuers (not just emerging growth companies) to test-the-waters with qualified institutional investors (QIBs) and institutional accredited investors (IAIs) before and after filing a registration statement.[1]  The commentary about this proposal has focused primarily on the ability to talk to investors without its being