Change feed

The Department of Financial Services issued updated guidance on custodial structures for customer protection in the event of insolvency, which supersedes the previous guidance issued on January 23, 2023.

eToro NY LLC’s listed licensure was updated to include a Money Transmitter License in addition to its Virtual Currency License, adding money‑transmitter regulatory obligations.

A new broker reporting requirement was added, mandating brokers to file Form 1099-DA for digital asset transactions with specific effective dates.

The IRS guidance list was shortened, removing Notice 2025-03 and Final regulations 2024-12-30 that previously offered transitional relief and broker reporting rules.

The digital asset question is now required on Form 709 (gift tax return), expanding the scope of returns that must include the question.