Preston Byrne: Peirce’s Safe Harbor Proposal Would Be Hilarious if It Weren’t so Serious
In his first column for CoinDesk, Preston Byrne responds to Hester Peirce's proposal for a token sale safe harbor.
The updated proposal adds a number of new reporting requirements for startups.
A Beijing lawyer calls on the SEC to consider Hester Peirce's Safe Harbor proposal, which exempts startups from securities law while starting up. Without greater certainty around token sales, the U.S. risks falling behind other jurisdictions in blockchain commerce.
The revised Token Safe Harbor proposal defines what a successful project would look like.
Hester Peirce's safe harbor proposal would benefit from greater protections for token holders, say two law professors.
Hester Peirce's idea may not be formally considered by the SEC, but it could help refine and define future crypto regulation, say two advisers.
SEC Commissioner Hester Peirce has unveiled her proposal to create a safe harbor for crypto startups, allowing them three years to build out their networks before having to address federal securities laws.