More American’s are adopting bitcoin because of its bull run and it is growing wider. Due to this, crypto exchanges get the highest traffic from the US. The growing popularity of cryptocurrencies has given rise to regulatory agencies passing laws relating to crypto. A notice title “2014-21” has covered various parts associated with the taxation of cryptocurrency earnings made through digital currencies and it faced lots of criticism from the crypto-community. Congressman Tom Emmer has proposed a bill labeled as ‘Safe Harbor for Taxpayers with Forked Assets’ and this bill is in the favor of crypto-owners. The bill focus on the remover of the penalty provisions imposed on users who have made an earning out of cryptos over an applicable period.