How to Talk to Your Legislator About the Crypto Safe Harbor

Posted on by American Coins & Gold

How to Talk to Your Legislator About the Crypto Safe Harbor
Yesterday, Rep. Patrick McHenry (R-NC), the ranking member of the House Financial Services Committee, introduced a bill that would provide a “safe harbor” for crypto startups looking to raise capital through token sales. The bill is based on safe harbor rules laid out by SEC Commissioner Hester Pierce, a longtime crypto ally.The proposal is a nuanced attempt to square the circle at the heart of crypto network funding. The quandary goes something like this: If the token for a new network is classified as a security from the start, only institutional players and venture capitalists will be able to buy…