Tagged: warren davidson

US Politicians Urge IRS to Clarify Aspects of Crypto Taxation

Twenty-one American Members of Congress have signed a strongly-worded letter “urg(ing)” the Internal Revenue Service (IRS), “to issue needed guidance on the tax consequences and basic reporting requirements for taxpayers that use virtual currencies,” in the United States. The letter is signed by Darren Soto… Read More

Updated Token Taxonomy Act Introduced as Legislation, Bill is Designed to Create Innovation Friendly Rules for Digital Assets Including Non Security Tokens

The House of Representatives has introduced the Token Taxonomy Act of 2019 (H.R. 2144) legislation – a bill that is designed to enable a digital asset that is a utility token unregulated by the Securities and Exchange Commission (SEC). The bill states: “… to exclude… Read More

Congressional Hearing with Fed Chair Jay Powell Elicits Several Questions on Crypto and Tokenization

It is almost inevitable that topics regarding Fintech surface in Congressional hearings that address the financial services industry. This week’s hearings involving the House Financial Services Committee and Federal Reserve Chairman Jay Powell were no different and some of the questionings went beyond payments. There… Read More

Ohio’s Crypto Friendly Tax Portal Called “A PR Stunt”

Cleveland car dealer Bernie Moreno recently became the first businessperson in the entire US to pay company taxes in Bitcoin, thanks to the Ohio government’s new portal, “OhioCrypto.com,” where businesses can pay 23 different taxes in cryptocurrency, The Detroit Free Press (DFP) reports. “Digital currency and… Read More

Legislation Designed to Fix ICOs in the US, the Token Taxonomy Act, is Introduced in Congress

As long anticipated, legislation has been entered into Congress to address pressing questions regarding initial coin offerings (ICOs) and their current treatment as being regulated by the Securities and Exchange Commission (SEC) as they are all considered to be securities. Representatives Warren Davidson and Darren… Read More

Ohio Congressman Davidson Proposes Crowdfunding US Border Wall

Ohio Congressman Warren Davidson suggested in an interview with NPR journalist Steve Inskeep this week that the contentious proposed wall between the US and Mexico could be funded through crowdfunding or tokens on a blockchain. The interview with Davidson, a Republican, took place on December 12th,… Read More

Congressman Davidson Discusses Forthcoming Legislation to Enable a Token that Trades but is Not a Security

Speaking at Blockland Cleveland yesterday, Congressman Warren Davidson, from Ohio’s 8th District, discussed forthcoming legislation that may dramatically impact the initial coin offering (ICO) industry in the US. Representative Warren said the draft legislation seeks to create a token that can trade but will not… Read More

Industry Advocates in Washington, DC This Week to Consult on Cryptocurrency Legislation

Warren Davidson

Representatives from Wall Street and prominent US crypto investment/services firms are convening in Washington this week to attend a legislative roundtable hosted by Republican Representative Warren Davidson of Ohio, CNBC reports. Attendees at the roundtable, titled “Legislating Certainty for Cryptocurrencies,” are reportedly hoping to influence… Read More

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