Nevada passed regulatory sandbox legislation aimed at continuing and expanding blockchain investment and entrepreneurism in the state. Governor Steve Sisolak signed the “blockchain bills” on June 7 and 13.
In February of this year Nevada legislators introduced a suite of bills designed to promote blockchain adoption.
- SB161 – Creates a regulatory sandbox for emerging technologies companies through a program in the Department of Business and Industry.
- SB162 – Creates a definition for “public blockchain” within Nevada Revised Statutes and requires government agencies to accept electronically certified documents, including those on a blockchain.
- SB163 – Authorizes businesses to store and maintain corporate records on a blockchain.
- SB164 – Defines virtual currencies as intangible personal property and therefore exempts them from personal property taxation.