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Non-prosecution promises are not enough: Courts must rule on devs and money transmission
Michael Lewellen has filed his opening brief in the Fifth Circuit, arguing that software developers like him face a credible threat of prosecution for unlicensed money transmission and deserve a...
Congress must understand: Block rewards are newly created property, not income.
Mining bitcoin creates new property. The Bitcoin software permits those who successfully validate transactions to create new coins for themselves. There are currently more than 20 million bitcoins in circulation,...
Testimony on Digital Asset Taxation before the House Ways & Means Committee
Director of Policy Jason Somensatto testified before the House Ways & Means Committee to discuss tax issues facing the users of digital assets today. Some issues discussed were: A de...
Comment to FinCEN on AML/CFT Programs
A PDF version of this filing is available here. To whom it may concern: Coin Center is an independent nonprofit research and advocacy center focused on the public policy issues...
Comment to FinCEN and OFAC on PPSI AML/CFT and Sanctions Program Requirements
A PDF version of this filing is available here. To whom it may concern: Coin Center is an independent nonprofit research and advocacy center focused on the public policy issues...
The BRCA is ready to become law
Coin Center has advocated for a safe harbor from money transmission licensing and liability since 2016. That effort began to bear fruit when Representatives Tom Emmer and Darren Soto introduced...
The BRCA survived Clarity’s markup. Do not give it up now.
Coin Center is encouraged by the advancement of the Clarity Act through the Senate Banking Committee with the Blockchain Regulatory Certainty Act (BRCA) included and not undermined by ill-conceived amendments....
Letter in support of the Digital Asset Market Clarity Act
A PDF version of this filing is available here. Dear Chairman Scott, Ranking Member Warren, Chairman Lummis, and Ranking Member Gallego: On behalf of Coin Center, I write to express...
The Wash-Sale Rule Would Break Crypto Tax Compliance
The wash-sale rule was designed for a narrow context: securities held as long-term investments, typically within a single account, where taxpayers can deliberately time tax losses without changing their economic...
Letter to the SEC regarding First Amendment limits on jurisdiction
A PDF version of this filing is available here. Dear Chair Atkins and Commissioner Peirce, This letter addresses a threshold issue for the Commission’s approach to digital assets: the First...