Non-Fungible Tokens

From “The Matrix” By Josh Lawler The concept of the collectible is fundamental to the human spirit. Children start collecting things before they can walk. The fascination with collecting only increases as we get older. For most, a collection is fairly simple. Baseball cards, luxury cars, toys, comic books, art, merit badges; sure; but people also…

Zuber Lawler represented DLT Element, LLC and Distributed Ledger Technologies, LLC

Zuber Lawler represented DLT Element LLC, Distributed Ledger Technologies, LLC, and related entities, in the sale of assorted assets including rights to revenue derived from Bitcoin mining activities, equity and derivative securities and digital assets including tokens, SAFTs and rights to receive tokens pursuant to smart-contract lock-up release to Element ASA, a Norwegian entity listed…

Phantom Tax Consequences on Receipt of Digital Assets by Airdrop

On October 9th, 2019, the IRS released long awaited guidance on the taxation of cryptocurrency through Rev. Ruling 2019–24 and an associated FAQ, including their guidance on treatment of airdrops. The IRS takes the controversial position that the airdrop equates for taxation purposes to a dividend. As a corollary, an involuntary (and perhaps unknowing) recipient of an airdropped…