House Representative Tom Emmer, of Minnesota, is one of the most active voice for crypto and blockchain in the US government. In this episode, he discusses:

what book made Tom fall down the crypto rabbit hole
why Tom believes the Financial Accounting Standards Board needs to set clear accounting standards for cryptocurrencies
why the current way of accounting for Bitcoin on balance sheets may be a detriment to companies in the future
how he feels about the acting head of the OCC putting together a “sprint team” of federal regulators to establish overarching crypto standards
why he is fighting to change tax rules for forked coins
what problems the Eliminate Barriers to Innovation Act might solve
why he is so passionate about the Securities Clarity Act, which would explicitly separate digital tokens from securities
how DeFi should be regulated and why he is not a fan of FATF’s recently proposed guidance
Tom’s prediction for when these bills may actually become law

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

NEAR: https://near.org

Episode Links

Tom Emmer

Twitter: https://twitter.com/RepTomEmmer
Website: https://emmer.house.gov/

Documents Mentioned

FASB letter
- https://emmer.house.gov/2021/5/emmer-urges-fasb-to-issue-clear-accounting-standards-for-virtual-currencies
Eliminate Barriers to Innovation Act
- https://www.forbes.com/sites/jasonbrett/2021/04/22/us-house-passes-bill-to-create-first-crypto-task-force-on-digital-assets/
Safe Harbor for Taxpayers with Forked Assets Act
- https://emmer.house.gov/2021/5/emmer-introduces-legislation-to-protect-taxpayers-with-digital-assets-pending-further-irs-guidance
Securities Clarity Act
- https://emmer.house.gov/2020/9/emmer-introduces-legislation-to-provide-clarity-for-digital-assets-under-securities-law
Proposed FATF Guidance (quick breakdown)
- https://www.coincenter.org/a-quick-analysis-of-fatfs-2021-draft-cryptocurrency-guidance/

Miscellaneous

Congressional Blockchain Caucus
- https://congressionalblockchaincaucus-schweikert.house.gov/members
US Regulatory “sprint”
- https://decrypt.co/71975/us-agencies-sprint-align-on-bitcoin-regulations
Michael Saylor episode
- https://unchainedpodcast.com/why-bitcoin-now-michael-saylor-on-the-best-way-for-companies-to-buy-bitcoin/
Age of Cryptocurrency
- https://www.amazon.com/The-Age-of-Cryptocurrency

Learn more about your ad choices. Visit megaphone.fm/adchoices

Unconfirmed: Rep. Tom Emmer, One of the Most Active Crypto Congress Members, on Taxes and DeFi - Ep.241 38:37 Share

Unchained

Shownotes Transcript

Unconfirmed: Rep. Tom Emmer, One of the Most Active Crypto Congress Members, on Taxes and DeFi - Ep.241