On Nov. 15, 2021, President Biden signed into law the massive $1.2 trillion bipartisan Infrastructure Investment and Jobs Act (the “Infrastructure Law”). Touted as the single largest investment in American infrastructure in over a generation, the Infrastructure Law’s...
Content By James J. Scherer
New Crypto Reporting Requirements Aim to Address Tax Gap
As cryptocurrencies such as Bitcoin rise in popularity, government regulators repeatedly try, and often fail, to control their use as a tax shelter. Agencies such as the IRS struggle with determining the best way to tax cryptocurrency holdings and transactions, and...
Metaplex Raises $46 Million for New NFT Protocol
The Growth of NFTs Non-fungible tokens (NFTs) had their best year ever in 2021. Although the concept of NFTs dates back to 2015, they’re now a mainstream phenomenon with big name brands—such as Asics and Mattel—implementing them in their marketing mix. At its most...
The Rise of the Virtual Real Estate Market
As companies like Meta (formerly Facebook), Google, HTC and others make significant strides in the field of virtual reality (VR), science fiction is becoming a little less fiction. The types of virtual experiences popularized by blockbusters including Tron, The Matrix...
SEC Staff Issues Report on GameStop and Other Meme Stocks
2021 was a year of unexpected—and sometimes baffling—events. In the midst of cascading economic failure caused by the COVID-19 pandemic and political turmoil, one cartoonishly-quirky episode swept the nation involving an unlikely main character: GameStop Corp (NYSE:...
FTC Amends Longstanding Data Security Rule
The FTC has revised a data security rule requiring financial institutions to encrypt customers' personal data and appoint a cybersecurity point of contact in the event of a data breach. The updates outline specific criteria that financial institutions must meet,...