The End of the US-EU Safe Harbor Agreement: Golden Opportunity for Bitcoin
The European Court of Justice declared the Safe Harbor agreement between the EU and the US invalid on October 6, 2015. This ruling will affect U.S. companies like Facebook, Apple, Google, Microsoft, Amazon, and thousands of others. According to this judgment, these companies may now be ordered to suspend the transfer of data from Europe to servers in the....
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US Congressman Tom Emmer is pushing for safe harbor legislation to protect taxpayers with forked coins. A bill entitled “Safe Harbor for Taxpayers with Forked Assets Act of 2021” has been introduced to prohibit “penalties against taxpayers attempting to report certain gains or losses on ‘forked assets’ until the IRS issues sufficient guidance on how to do so.” Bill Aimed at Protecting Crypto Investors Introduced The office of Congressman Tom Emmer announced this week that the congressman has introduced the bill entitled “Safe Harbor for Taxpayers....
The “Clarity for Digital Tokens Act of 2021” bill seemingly builds on an initiative from SEC commissioner Hester Peirce, who has called for creating a safe harbor for projects that raise funds to build decentralized networks. North Carolina House Representative Patrick McHenry has proposed a bill which would amend one of the laws governing the Securities and Exchange Commission to provide a safe harbor for certain token projects.In a draft of the “Clarity for Digital Tokens Act of 2021” provided by the House Committee on Financial Services, McHenry suggested amending the Securities Act of....
Instead of a safe harbor for crypto firms, SEC Commissioner Caroline Crenshaw called for a “bridge” in which crypto firms work with the SEC to determine compliance plans. Caroline Crenshaw, a commissioner at the U.S. Securities and Exchange Commission (SEC) has said the “safe harbor” proposal would have exacerbated the problems seen during the initial coin offering (ICO) boom of 2017 and 2018. Crenshaw made the remarks during the annual “SEC Speaks” event this month, and posted her speech to the SEC website on Oct. 12. The Commissioner argues that the impact on investors and markets would....
The Buttonwood Agreement was established in 1792 in response to the public's desire for a more transparent transfer of wealth into securities representing steel companies, railroads, coal plants and many other growing industries. There is no denial that these industries had merit and ultimately the Buttonwood Agreement was the foundation to offer the investing public a safe and dependable ability to participate in the growth of these markets. Prior to this agreement, many people were scammed out of their savings by criminals promising to deliver stock in return for money. Most people are....
This is the third time Rep. Emmer has introduced the bill to the House of Representatives, but the first with a Democrat in the presidency. Minnesota Rep. Tom Emmer has reintroduced a bill aimed at preventing the IRS from imposing penalties or fees on crypto taxpayers with forked assets.In an announcement from Emmer on Monday, the congressperson from Minnesota said he had once again introduced the Safe Harbor for Taxpayers with Forked Assets bill in the United States House of Representatives. If passed in its current state, the bill would create a safe harbor for crypto holders with forked....