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2019 NAPABA Convention

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2020 NAPABA Convention

Webinar | Investing in Cryptocurrencies and Other Tokens
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6/14/2018
When: Thursday, June 14, 2018
4:30 PM
Where: United States

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Investing in Cryptocurrencies and Other Tokens: Certain Legal, Tax, and Business Considerations

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Cryptocurrencies and token offerings (commonly known as initial coin offerings or ICOs) continue to be a topic of increased public interest and intense regulatory scrutiny on a worldwide scale as governments and regulators struggle to make sense of these new asset classes under their respective jurisdictions’ current legal and regulatory regimes.  In the U.S. alone, regulators have published  formal and informal guidance, including enforcement actions, that suggests they will treat certain cryptocurrencies or tokens generated by ICOs as: 

  • securities (the Securities and Exchange Commission (“SEC”));
  • commodities (the Commodity Futures Trading Commission (“CFTC”) and National Futures Association (“NFA”));
  • currency (the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”); and
  • property (the Internal Revenue Service (“IRS”).   

Please join us to hear Finn Dixon & Herling LLP’s summary and thoughts on these and other considerations for persons who invest or trade in cryptocurrencies and ICO tokens, or who are interested in doing so in the future, whether on behalf of themselves or as an investment adviser or broker-dealer. Topics that will be discussed include:    

  • categories of tokens and how each fits into the U.S. regulatory scheme;
  • guidance and selected enforcement actions by the SEC, CFTC, FinCEN, IRS and state regulators;
  • cryptocurrency fund structuring considerations including the tax treatment of various types of cryptocurrencies and ICO tokens; and
  • a summary of certain business considerations, including risks and best practices, facing investment advisers who wish to invest in such assets on behalf of client portfolios.

Panelists:
Justin J. Shigemi | Partner, Finn Dixon & Herling LLP
Andrew M. Calamari | Partner, Finn Dixon & Herling LLP
Michael P. Spiro, Partner | Finn Dixon & Herling LLP

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