SEC Commissioner says 'safe harbor' laws would've made ICO problems worse
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....
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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....
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 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....
The Securities and Exchange Commission’s (SEC) crypto “safe harbor” framework has been sent to the White House Office of Information and Regulatory Affairs (OIRA) for review. Crypto-Safe Harbor Confirmed SEC Chair Paul Atkins confirmed the “safe harbor” proposal he introduced last month has made its way to the White House for review. The proposal is […]
The Digital Trading Clarity Act of 2022 aims to provide regulatory clarity around classifying digital assets and related liabilities under existing securities laws. United States Senator Bill Hagerty, a member of the Senate Banking Committee, introduced legislation seeking a safe harbor for cryptocurrency exchanges from “certain” Securities and Exchange Commission (SEC) enforcement actions.The Digital Trading Clarity Act of 2022, introduced by Sen. Hagerty, aims to provide regulatory clarity around two primary concerns plaguing crypto exchange establishments — (i) the classification of....