Nevada Appears Optimistic for Blockchain/Cryptocurrency Approving Various Blockchain Bills

Nevada-Looks-Very-Optimistic-for-BlockchainCryptocurrency-Approving-Various-Blockchain-Bills-

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.

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Piiggy

Written by Piiggy Bank

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