Alaskan Lawmakers Propose This to Bitcoin Businessmen

In News
Alaskan Lawmakers

Why do lawmakers seek regulatory changes? 

Isn’t it interesting to know why other countries want Bitcoin regulation and others do not? If I’m going to ask you, which do you prefer, a regulated cryptocurrency or a free cryptocurrency where the government cannot intervene?

There are actually many countries who are seeking for Bitcoin regulations today, and one of those countries is Alaska.

Lawmakers in Alaska are seeking regulatory changes that would require certain digital currency services that work in to state to obtain money transmission licenses.

House Bill 180, introduced yesterday by state representative Kito Fansler, will potentially bring companies that exchange, store or transmit digital currencies like bitcoin on behalf of a customer under the state’s money transmission laws. If approved, relevant companies would need to apply for licensure with the state’s Banking and Securities Commission.

The proposed legislation includes an expanded definition of “virtual currency”, including both decentralized and centralized varieties, and covering “open-source, math-based, peer-to-peer- virtual currency” in particular.

Notably, the bill is a follow-up to a previous effort to change state law to account for digital currencies. HB271, which contained much of the same language, failed in committee, months after being introduced in late January 2016.

The latest bill highlights the twin directions that lawmakers in different states have taken on the question of regulating digital currencies.

One the one side, led by states such as New York, licensure frameworks have emerged that include the technology under existing or updated statutes. In places like New Hampshire, by comparison, state officials have sought to create exemptions for digital currency traders.

via Coindesk.com


You may also read!

Net Neutrality Bill

Nation’s Strongest Net Neutrality Bill Pushes Forward

There is no stopping California from pushing its net neutrality bill forward. Even ISPs and cable companies can’t do

Read More...
net neutrality on eLearning

Untold Influence of Net Neutrality on eLearning

What is the impact of net neutrality on eLearning activities? Not all people can afford to travel the long

Read More...
Defend Net Neutrality

Renowned Lawyer Runs for Attorney General to Defend Net Neutrality

A lawyer, litigator, assistant to the attorney general, wife, mother, black belt in Judo. These are some of the

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu