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A bill allowing corporations to hold and share data on a distributed ledger was officially signed into Arizona state law by Governor Doug Ducey, April 3.
The Arizona House of Representatives passed HB 2603 with . The Arizona Senate proceeded to pass the bill unanimously.
The bill was first introduced as an amendment to the Arizona Revised Statutes by Rep. Jeff Weninger in February, one of three bills “to open the door for emerging technologies in Arizona.”
and are both awaiting a third reading in the Arizona Senate. The former would prohibit towns from restricting cryptocurrency in residences, while the latter aims to address securities and crowdfunding, recognize a “virtual coin” as “a digital representation of value”, and authorize its function as a medium of exchange in digital trading.
Weninger’s measures emerge amid a backdrop of robust regulatory moves by the state to recognize and delimit applications of technology. As Cointelegraph reported in March, the Arizona Senate , which would allow state residents to pay their taxes in .
In April last year, legalized Blockchain signatures and recognized the enforceability of smart contracts. Arizona’s Revised Statutes now stipulate that data “written” and stored on Blockchain technology is “.”
Across the , state governments are passing liberal legislation on cryptocurrencies and Blockchain technology. New Hampshire from money transmission regulations in March 2017, while this year Wyoming from state property taxation, as well freeingcertain Blockchain tokens .
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