ErisX Deploys Sovos Tax Information Reporting Solution for Crypto Offerings
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Popular spot and futures platform selects tax and compliance software provider for 1099 and other third-party crypto reporting.
As the largest private filer of 1099 forms, Sovos will ensure ErisX customers meet all tax reporting regulations during the 2021 tax season and beyond. BOSTON (PRWEB) April 29, 2021 Global tax software leader Sovos today announced the launch of its integration with ErisX, a leading platform for investors for trading crypto spot and futures, to assist ErisX members with their 1099 crypto tax information reporting needs.
ErisX is an exchange and clearinghouse that includes a Commodity Futures Trading Commission-regulated futures market for Bitcoin and Ether, as well as a 24/7 spot market for Bitcoin, Bitcoin Cash, Ether and Litecoin. ErisX’s work with Sovos comes in the midst of the 2021 tax seas
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CFTC Commissioner Dan M. Berkovitz argued that futures contracts tied to the
outcome of sporting events should be permitted to be traded on a
designated contract market ( DCM ) if it can be
demonstrated that there is an economic purpose and the contract
provides impartial access to the public.
Mr. Berkovitz s statements came following the recent
withdrawal by Eris Exchange ( ErisX ) of a proposal to list futures contracts tied to the
outcome of NFL games. Mr. Berkovitz said that the proposal was deficient because (i) there was insufficient evidence
A Proposal to the CFTC for a New Way for Bets to Be Hedged | Faegre Drinker Biddle & Reath LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
CFTC Announces Review Of RSBIX NFL Futures Contracts Proposed By Eris Exchange, LLC Date
23/12/2020
The Commodity Futures Trading Commission today announced it has initiated a review, pursuant to CFTC Regulation 40.11(c), of RSBIX NFL futures contracts self-certified by Eris Exchange, LLC (ErisX) on December 15, 2020. ErisX self-certified three RSBIX NFL futures contracts: one based on the moneyline; the second on the point spread; and the third on total points for individual NFL games. Beginning today, the CFTC has 90 days or longer as agreed to or requested by ErisX to review and make a determination with respect to the submissions.
The review follows a Commission determination that the RSBIX NFL futures contracts “may involve, relate to, or reference” an activity enumerated in Regulation 40.11(a)(1), including but not limited to “gaming, or an activity that is unlawful under any State or Federal law.” Accordingly, and pursuant to Regulation 40.11(c)(1), the Comm