Brett P. Barragate

Jones Day are most popular: within Strategy topic(s) On June 4, 2026, the U.S. Tax Court issued the first opinion directly addressing the tax treatment of staking rewards, holding that rewards must be included in gross income upon receipt. In Paschall v. Commissioner, T.C. Memo. 2026-46, the court held staking rewards must be included in gross income upon receipt.

On June 4, 2026, the U.S. Tax Court issued the first opinion directly addressing the tax treatment of staking rewards, holding that rewards must be included in gross income upon receipt. In Paschall v. Commissioner, T.C. Memo. 2026-46, the court held staking rewards must be included in gross income upon receipt. The taxpayers in Paschall held Cardano tokens in a custodial eToro account and received staking rewards each month in the form of additional tokens.

In Short The Situation: Nordic bonds have evolved from a niche regional product into a credible alternative for acquisition financings and other leveraged transactions. Increasingly used by non-Nordic issuers across Europe, the United States, and the Asia-Pacific, the market offers a distinct execution channel sitting alongside private credit, syndicated lending, and traditional high-yield bonds.