Published On: Sat, May 12th, 2018

Colorado: A Tale of Two Blockchain Bills

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Forget the Rocky Mountains. The US state of Colorado is hoping to make a name for itself as a blockchain hub in America. They’ve put through two bills supporting this, but only one has made it through the Senate gauntlet.
Crypto regulations seem to be up in the air in most countries, but this hasn’t stopped certain US states from taking the initiative to actively be a part of the decentralized revolution.
According to the Denver Post, Colorado seemed poised to be the next state to welcome both this technology and virtual currencies. Sponsors of House Bill 1426 hoped that the legislation would help develop a framework which would assist in determining which virtual tokens should be recognized as securities.
Essentially, the bill states that tokens that are created for non-financial gain, such as those used for blockchain-based games, would be seen as collectibles. On the other hand, virtual coins created for financial gain would be seen as securities.

Yes and Then No
House Bill 1426 was set to become a revolutionary piece of legislation for the state of Colorado when it was given the go-ahead. However, a second vote held just minutes after it was initially approved, …

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