Arizona, home of the first U.S. FinTech Sandbox, has admitted another cryptocurrency startup into the program that is designed to ease regulatory burdens for entrepreneurs in the financial technology space. According to a statement released by Attorney General of Arizona, Mark Brnovich, ALTA becomes the seventh firm to be inducted into the regulatory sandbox. On its website, ALTA describes itself...
News of cryptocurrency investment fraud has hit the community again, as authorities of two U.S. states, Illinois and Arizona, have asked the Criminal Investigation Department (CID) in India to seize the property of several BitConnect promoters, per reports from the Times of India. BitConnect was an open-source cryptocurrency and an investment program accused of running a Ponzi scheme before...
An Arizona Senate bill that previously focused on state income tax is getting a makeover, the Senator who crafted the bill tells CCN. Senator Warren Petersen, a Republican, said the bill is being redesigned to instead focus on point-of-sale crypto tax payments known as the transaction privilege tax (TPT) in the state. Arizona residents could be the first in the United States to make a purchase at...
Arizona just advanced its ranking among blockchain-friendly states, bringing corporations one step closer to submitting all of their data on distributed ledger technology. Governor Doug Ducey has signed House Bill 2603, or the Corporations/Blockchain Technology bill, as an amendment to the Arizona Revised Statutes, which already supports "signatures and records secured through blockchain...
US lawmakers may be eager to regulate cryptocurrency, but they’re quickly finding that it’s easier said than done. In an interview with Fox Business, House Representative David Schweikert (R-AZ) said that regulators must focus their efforts on application-level oversight of the cryptocurrency markets, as the underlying technology is “very hard” to regulate. “It’s actually very hard to regulate...
Lawmakers in Arizona, a blockchain friendly state, have proposed allowing residents to pay their taxes in bitcoin. State Rep. Jeff Weninger, a co-sponsor for the bill, which the senate finance committee has already passed, said the measure will send a signal to the U.S. and possibly worldwide that Arizona is a place for blockchain and digital currency. The law would enable the ease of being able...
A New York legislator has submitted a bill calling for the state to establish a task force to study the logistics and impacts of creating and issuing a state-backed cryptocurrency. New York Bill Calls for Research Into State-Backed Cryptocurrency The bill, which was proposed by Assemblyman Clyde Vanel and filed on Feb. 2, would require the government to research how a state-backed cryptocurrency...
The ink is barely dry on President Trump's tax legislation, and a new bill has surfaced in Arizona that kicks things up another notch. The bill proposes using bitcoin to pay state income taxes, and it was submitted by Senators Warren Petersen and David Farnsworth as well as Reps. Travis Grantham and Jeff Weninger, all of whom are Republicans. SB 1091, whose short title is "income tax payments;...
The governor of Delaware has officially signed a bill into law that recognizes the trading of stocks on the blockchain. In April, the Corporation Law Section of the Delaware State Bar Association (DSBA) had approved Delaware Law Amendments with the intention of delivering statutory authority for businesses in the state to use the blockchain to maintain corporate records. Passing the House at the...
Bitcoin, guns, ammo, drugs, a long rap sheet...and anarchy. Not a good mix, as one recent criminal case out of Arizona has proven. A multi-agency federal task force raided local bitcoin trader, and anarchist blogger, Morpheus Titania’s apartment last week. Court documents, available online in electronic court filings and first reported by CoinDesk, demonstrate that US Magistrate Michelle Burns...
Senators in the state of Nevada have fully supported a blockchain bill that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. SB 398 was first filed by Ben Kieckhefer on March 20, the bill was introduced to ensure that the State keeps up with the advancements of technology in addition to establishing a legal framework for people utilizing a...
Arizona Governor Doug Ducey has signed a bill into law that prohibits the blockchain technology from being used to track firearm information. First filed by Arizona state representative Paul Boyer in January, HB 2216 will prevent anyone – although law enforcement are exempt under the rule – from using the distributed ledger to track when a firearm has been fired. The bill states: 'Electronic...
The Arizona governor has signed a bill that officially recognizes blockchain signatures and smart contracts. Just last week, the Senate of the state of Arizona passed the bill, HB 2417, which was introduced by state representative Jeff Weninger on 6 February, 2017. The bill passed with a vote of 28-1 where it was then passed along to Arizona’s governor Doug Ducey. Now that gov. Ducey has signed...
The Senate of the state of Arizona has passed a bill relating to the blockchain that would give smart contracts and blockchain signatures legal binding status. The bill, HB 2417, which was introduced by state representative Jeff Weninger on 6 February, 2017, means that a signature through the blockchain is considered as legally binding. Equally, ‘a record or contract that is secured through...
The past year has seen a huge increase in the number of Bitcoin ATMs across the globe. There have been machines from Genesiscoin, Cryptex Card, Robocoin, and finally, the cheapest option, Skyhook. Everything has not been going without small setbacks however, and today it was announced that the very first Bitcoin ATM in Arizona has been hit by lightning. Hopefully, the insurance company will not...