Lawmakers from the state of Utah in the United States have introduced a bill according to which blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details companies will not be classified as financial transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details organizations.
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Senator Daniel Hemmert last week submitted for consideration a bill 213, which states that any person who "promotes the creation, exchange or sale" of certain products related to the blockchain should be exempted from state transaction law.
Currently, plans are under consideration by the Senate Committee on Transport, Utilities, Energy and Technology.
The bill also aims to create a legislative group called the Blockchain Project Evaluation Task Force to explore the potential of technology in public services. On November 30, 2019 or before this date, the task force should submit a report on the findings and recommendations, including any proposed legislation.
The developers explained: "crypto exchangers and service providers do not require a license to transfer currencies to work."
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However, the state of North Carolina took the opposite side of the state of Utah to introduce a transaction bill, adopting an update to the State Remittance Act, which obliges companies working with Bitcoins and other cryptocurrencies to obtain a license for remittances.
Editor: Yuliya Soroka