US lawmaker proposes safe harbor for digital tokens in new bill
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....
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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....
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....
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....
A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,” he stressed.
Bill Introduced to Prohibit the Fed From Issuing CBDC Directly to Consumers
U.S. Congressman Tom Emmer (MN-06) announced Wednesday that he has “introduced a bill prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) directly to....
A Panamanian lawmaker has introduced a bill to regulate cryptocurrencies in the National Assembly. Among the proposals in the bill is the legalization of cryptocurrencies, like bitcoin and ethereum, as a means of payment, including for paying taxes.
Proposed Crypto Law Will ‘Give Legal Certainty and Safety to Crypto Assets in Panama’
As the Bitcoin Law went into effect in El Salvador making BTC legal tender, Panamanian legislator Gabriel Silva tweeted on Sept. 7, “Today we proposed the Crypto Law.” He elaborated:
We want Panama to be compatible....