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When youโ€™re facing a federal issue, you need an attorney whose going to be available 24/7 to help you get the results and outcome you need. The value of working with the Spodek Law Group is that we treat each and every client like a member of our family.

Cryptocurrency Fraud Attorney

Protecting Your Assets and Future

The emergence of virtual currencies such as Bitcoin has revolutionized the world of finance. However, many people who embrace these technologies do so without fully understanding them, leading to fraudulent use of cryptocurrencies. This has attracted the attention of agencies that impose severe penalties on those found guilty of cybercrimes. If you face fraud charges involving cryptocurrency, it is crucial that you have an experienced attorney who will protect your constitutional rights.

Cryptocurrency technology enables people to transact without a third-party administrator or a central bank. Its goal is to eliminate the authority of a central third party and reduce transaction costs. With Bitcoin, users carry out transactions with anonymity using digital wallets that nobody else can see. However, this anonymity has created a loophole that fraudsters exploit for money laundering, illegal sales or purchases, and online fraud.

At Spodek Law Group, we understand the complexities surrounding cryptocurrency law and keep up with emerging activities in the digital world using cutting-edge defense strategies to protect your future and advocate for your constitutional rights.

Defending Against Cryptocurrency Fraud Charges

Fraud involving cryptocurrency is new and difficult to track and prove; only a few attorneys have experience in cryptocurrency investigations and prosecutions. Our attorney for crypto criminal defense has been at the forefront of these prosecutions for years making him one of New York’s leading cryptocurrency attorneys.

Together with our clients, we gather information and documents assessing their situation before developing strong defenses against any charges they may be facing regarding fraudulent use of cryptocurrencies.

Cryptocurrency Tax Issues You May Face

Christine Twomey
Christine Twomey
2024-03-21
Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldnโ€™t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.
Brendan huisman
Brendan huisman
2024-03-18
Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!
Guerline Menard
Guerline Menard
2024-03-18
Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law ๐Ÿ™๐Ÿผ๐Ÿ™๐Ÿผ๐Ÿ™๐Ÿผ๐Ÿ™๐Ÿผ๐Ÿ™Œ๐Ÿผโค๏ธ
Keisha Parris
Keisha Parris
2024-03-15
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were โ€œIโ€™m not worried about itโ€. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
Taรฏko Beauty
Taรฏko Beauty
2024-03-15
I donโ€™t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and thatโ€™s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now thatโ€™s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words canโ€™t describe how grateful I am to have the opportunity to work with this team. Iโ€™m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!
Anthony Williams
Anthony Williams
2024-03-12
Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.
Loveth Okpedo
Loveth Okpedo
2024-03-12
Very professional, very transparent, over all a great experience
Bee L
Bee L
2024-02-28
Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.
divesh patel
divesh patel
2024-02-24
I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

The IRS is currently battling Coinbase alongside other platforms dealing with cryptocurrencies to ensure taxpayers trading in crypto pay taxes due on their earnings from such trades properly reported on tax returns filed annually by taxpayers across America.

Spodek Law Group’s tax attorneys are well-versed in helping taxpayers deal with issues surrounding their cryptocurrency assets including tax reporting requirements under US laws governing taxation matters related thereto like capital gains arising from the sale or transfer of crypto, legal opinions on ICOs, tax strategies for day traders, tax audits and litigation as well as regulatory compliance.

IRS Disclosure Program: Mitigating Your Risks

If you have not reported your cryptocurrency transactions to the IRS yet, it is advisable to consider amending your prior tax returns and participating in the voluntary disclosure program. The agency has no time limit for auditing fraudulent tax returns where taxpayers fail to report their holdings properly.

Tax authorities nationwide are taking a proactive stance on investigating cybercrime involving cryptocurrency and pursuing cases involving its use in money laundering schemes, ICO scams among others. Therefore it is essential that you have an attorney with experience and a deep understanding of this emerging field of law like Attorney Todd Spodek at Spodek Law Group who can help protect your rights while ensuring that you receive the best possible outcome when facing any legal situation related to cryptocurrencies.

Emerging Cryptocurrency Fraud Schemes

With the emergence of cryptocurrency platforms come fraudulent schemes such as initial coin offerings (ICOs). Any fraud or theft involving these networks may lead to severe legal consequences and criminal penalties. It is therefore important to work with an attorney who understands these complexities and can build a strong defense against any charges brought against you regarding fraudulent use of cryptocurrencies.

Experienced Defense Strategies for Cryptocurrency Fraud Charges

At Spodek Law Group, we employ cutting-edge defense strategies that leverage our deep understanding of this emerging field’s laws. We understand how crucial it is to protect our clients’ rights when facing charges related to fraudulent use of cryptocurrencies; hence we work tirelessly towards achieving favorable outcomes for them always.

Protecting Your Constitutional Rights

When facing cryptocurrency fraud charges, protecting your constitutional rights becomes paramount. At Spodek Law Group, we understand this importance; thus, we work tirelessly towards ensuring that our clients’ constitutional rights are protected throughout their case proceedings until they receive favorable outcomes from courts handling such matters across America.

Contact Attorney Todd Spodek at Spodek Law Group Today

At Spodek Law Group, we have the necessary experience to handle any legal situation involving cryptocurrency. We understand the complexities of this emerging field and use our knowledge to protect our clients’ rights and futures. Contact us today for legal assistance from Attorney Todd Spodek, one of New York’s leading cryptocurrency attorneys. Our goal is to ensure that our clients receive the best possible outcome while protecting their constitutional rights always.

Cryptocurrency ICO SEC Subpoena Lawyers

CoinDesk, which is a platform that provides news about the latest developments in the crypto asset and blockchain community, reported that monthly investments in ICOs was on the rise in the past year. As a result, the industry accumulated an estimated $3 billion in investments during January and February of 2018.

While the SEC has reacted to this drastic increase by creating a skilled cyber unit within the law enforcement division, it is still a complex issue because ICO structures are always changing. These changes may or may not provide implications on federal security laws, so there isnโ€™t a regulatory scheme that is customized to ICOs. As a result, the SEC continues to struggle with the issue of whether or not crypto-currency is subject to jurisdiction by the SEC.

What is the Howey Test?
Crypto-currency doesnโ€™t fit perfectly within the tradition categories that constitute securities as stated in Section 2(a)(1) of the Securities Act of 1933. This is also know as the Act, and it enables corporate stocks and bonds to be subjected to the Howey, which will decide if any certain token offerings would count as a type of โ€œcatch allโ€ security. This can also be described as an investment contract. When the Howey Test is administered, the same formula will be used that was initially created in 1964 by the Supreme Court. This is an agreement that counts as an investment contract, and it involves an investment of funds in a common enterprise. In addition, there must be an expectation of profit, and the profits must be derived from the efforts of others.

The 2017 DAO Report did not specify any concrete guidelines in regards to developing a token offering test in addition to the Howey Test. In fact, it was noted that in February of 2018, the chairman for the SEC stated that he feels every ICO token reviewed by the SEC could be considered a security in legal terms.

What is the Utility Token Argument?
There are a many companies that continue to advocate that their ICOs are non-security utility tokens, so they should be outside of the SECโ€™s jurisdiction. In other words, an ICO is a fund raising structure that allows startup businesses to issue and sell crypto-currency to individual on an open ledger, which is often known as blockchains. This is an exchange for cash that is supposed to be invested in the development of a startup business and are typically network-based computing services.

When a given ICO includes tokens that are made to provide functional access to the products or services the business offers, many feel that these tokens are more like a pre-purchase investment or a coupon that is used to redeem a product as opposed to an investment in securities.

It is important to note that when an ICO token is considered pre-functional, which is when it is used before a business has started to develop the product, the SEC will issue subpoenas to send a clear message that these arguments gain little recognition from the agency. The primary focus of an SEC investigation is to observe board members and executives who use utility tokens, and the agency focuses on investigating promoters who have made offers before registering as a broker dealer.

Regulation D Exempt ICOs & SAFTs: What You Should Know
To comply with the ACT and the regulated SEC guidelines, an increasing number of businesses (especially startups) have made drastic efforts to establish ICOs to adhere to all the rules of the Act and the SEC guidelines. The first company to register a token sale was The Praetorian Group. The company did so by filing a Form S-1 with the SEC. The company has significantly relied on the registration exemption that can be found in Rule 506 C of Regulation D in the Act. According to this rule, an issuer of tokens is permitted to raise an unlimited amount of funds from unregistered product sales. However, it is necessary that all of the investors are considered accredited investors. In addition, any securities that are sold under Rule 506 C have restrictions, and if violated, can result in a lock-up period of token resales that can last up to one year.

The SEC attempts to stay ahead of the ongoing challenges to stay that come with the technology and market appeal of crypto-token offerings. Some feel that the use of the Howey Test is an antiquated method that is not able to properly address the unprecedented methods of capital investments and gains in todayโ€™s market society. However, the recent rise of subpoenas issued that was issued by the SEC is a warning sign that the organization is aware that many individuals are operating close to the fray of federal laws. An attorney can advise startup business owners (who want to use crypto-tokens) on the best course of action.

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