Blockchain Bites - IRS deploys new crypto tax form, China ramps up blockchain integration, Ukraine approve new crypto AML policy

Sep 19, 2026

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Blockchain Bites compiles legal, regulatory, and project updates across the financial services and FinTech sectors. It covers the U.S. IRS deploying a new 2019 tax form that requires declaring virtual currency dealings, Lithuania’s digital blockchain collector coin for its 1918 independence act, and developments around crypto money-laundering risks tied to blockchain-enabled virtual assets and VASPs. It also reports on prudential regulatory discussions and copyright management initiatives involving blockchain platforms.

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IRS now requires taxpayers to disclose crypto activities

Bank of Lithuania launches blockchain collector coin

Implications for Virgil Griffith

BIS seeks submissions on prudential regulatory treatment of crypto-assets

Italian Society of Authors and Publishers partners with Algorand to develop copyright management

Article Information Authors: Louisa Xu, Michael Bacina, Petros Xenos, Tom Skevington Service: Blockchain Sector: Financial Services, FinTech Blockchain Bites: IRS deploys new crypto tax form, China ramps up blockchain integration, Ukraine approve new crypto AML policy The U.S . Internal Revenue Service (IRS) has deployed a new tax form requiring users to declare any dealings with cryptocurrency, the Bank of China has issued $2.8 billion worth of bonds using blockchain technology, and the Ukranian government has approved the final version of a money laundering law that will handle virtual assets and VASPs . Michael Bacina, Louisa Xu, Tom Skevington and Petros Xenos of the Piper Alderman Blockchain group bring you the latest legal, regulatory and project updates in Blockchain . IRS now requires taxpayers to disclose crypto activities The U.S. Internal Revenue Service (IRS) has deployed a new tax form that requires crypto owners to declare whether they have received, bought, sold, exchanged, or acquired any cryptocurrencies in 2019. The Schedule 1 form is part of the 1040 tax form for U.S. taxpayers to declare “Additional Income and Adjustments to Income.” The form is now on the IRS website, for use in filing 2019 tax returns. Form 1040 is used by over 152 million U.S. taxpayers. The first question on the new Schedule 1 reads,“at any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” This is part of the IRS moving to assess possible tax due on crypto transactions. So far only “dozens” of offenders have not been paying tax on crypto transactions, which raises the real question of whether unlawful tax behaviour is present in cryptocurrency transactions in significant amounts. Bank of Lithuania launches blockchain collector coin The Bank of Lithuania has announced in a press release that it will release a digital, blockchain-based collector coin in the spring of 2020. The coin is dedicated to the 16 February 1918 Act of Independence of Lithuania and its 20 signatories. The 24,000 tokens will be blockchain based and feature one of the Act’s 20 signatories. The coins will be divided into six categories with 4,000 coins in each category. The digital collector coin is a small, but important step for the Bank of Lithuania in gaining knowledge of, and carrying out, blockchain research. When can we expect an Australian Reserve Bank collectible token? It could be a great way for the RBA to get more comfortable about digital currencies. Ethereum evangelist or money-laundering lecturer: Implications for Virgil Griffith The U.S. Justice Department in the Southern District of New York has filed a criminal complaint against Virgil Griffith, a prominent employee of the Ethereum Foundation, after arresting Griffith at Los Angeles International Airport on 28 November 2019. The complaint alleges that Griffith violated the International Emergency Economic Powers Act, 50 USC § 1705 (IEEPA) . The criminal complaint states that Griffith admitted he attended the Pyongyang Blockchain and Cryptocurrency Conference in the Democratic People’s Republic of Korea (DPRK) between April 26 and April 27 with approximately 100 [piperalderman.com.au](piperalderman.com.au) Page 1 of 3 other attendees, despite being refused permission to attend by the US State Department. Griffith has been released from jail pending a trial. Founder of Ethereum Vitalik Buterin has expressed his support for his employee. The matter has yet to receive a date for trial, but the arrest has already proved to be divisive in the blockchain community. With regulators and governments internationally expressing concerns about the money-laundering risks enabled by blockchain technology, a relatively high profile member of the Ethereum Foundation giving instructional talks in the DPRK ( a country with significant US sanctions in place) sends a bad message. BIS seeks submissions o

FAQs

What does the new IRS Schedule 1 require crypto owners to disclose for 2019?

It requires filers to declare whether they received, sold, sent, exchanged, or otherwise acquired any financial interest in virtual currency during 2019.

What is the purpose of Lithuania’s blockchain-based collector coin?

It is dedicated to Lithuania’s 16 February 1918 Act of Independence and its 20 signatories, using 24,000 blockchain-based tokens categorized into six groups.

What is the Basel Committee asking for regarding crypto-assets?

It seeks submissions on the prudential regulatory treatment of crypto-assets, including risk features that should inform bank capital and liquidity exposure design, with a submission deadline of 13 March 2020.

Sep 19, 2026

Upload by Miles