The Government Accountability Office released a report highlighting the IRS’s lack of guidance for IRA investments in “unconventional assets.” Virtual currency is considered an unconventional asset, and taxpayers may not fully understand their responsibilities when investing in this type of asset.
On January 11, 2017, Coinbase filed a motion in federal court seeking to intervene and challenge an IRS summons. Coinbase's motion will be heard on February 16, 2017, along with a motion to intervene filed earlier by Jeffrey K. Berns, a Coinbase customer and managing partner of Berns Weiss LLP.
Deloitte launched a blockchain lab in New York to help integrate blockchain technology into existing financial institutions. They aim to deploy actual solutions, instead of simply developing proofs of concept.
Qtum is an enterprise that combines different aspects of the two most prominent blockchain platforms, Ethereum and Bitcoin, into one cohesive project. Their goal is to ease the adoption of blockchain technologies for corporate entities.