David Shapiro and Mary Harmon will speak at the ABA Section of Taxation 2024 May Tax Meeting in Washington, DC. David will speak on May 3rd beginning at 12:30 p.m. on the topic "Recent Developments in Crypto Taxation." The Securities and Exchange Commission’s recent approval of Bitcoin Exchange Traded Funds (ETFs) has created a flurry of activity on exchanges, including registrations by BlackRock, Inc., Fidelity Investments and Franklin Templeton, to name a few. This panel will address the U.S. federal income tax implications and reporting requirements for crypto-related ETFs as well as current developments in taxation of digital assets, including the implications of the emergence of trading in ETH-W (Ethereum Proof of Work) after the “merge” in which the main Ethereum blockchain shifted from proof of work to proof of stake.
Mary will moderate a session on May 4th beginning at 9:15 a.m. on the topic "NFTs and Digital Asset Broker Reporting - Implications for Sales, Exchanges and Basis." This panel will discuss Notice 2023-27, regarding the tax treatment of certain nonfungible tokens (NFTs) as collectibles under section 408(m), and other emerging issues relating to cryptocurrency and blockchain technology. Panelists will also discuss developments concerning proposed regulations under section 6045 and the impact of the regulations on the digital assets ecosystem.
