H.B. Assemb., 2019 Sess. Definition of Crypto-Assets. Governor Rick Scott signed House Bill 1379 in June 2017. House Bill 180 was introduced in March 2017 but appears to be stalled in the state legislature. DocNum=5553&GAID=14&DocTypeID=HB&SessionID=91&GA=100. Sess. With respect to Maryland state tax law, the Maryland house introduced H.B. 4106, 100 Leg., Reg. The Act prohibits local governments from imposing taxes on the use of blockchain, from requiring any person or entity to obtain a permit to use blockchain technology, or from imposing any other requirement relating to the use of blockchain. 1393, which establishes the Florida Blockchain Task Force within the Department of Financial Services. H.B. In February 2019, the Rhode Island House proposed a bill entitled, "AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENTDEPARTMENT OF BUSINESS REGULATIONVIRTUAL CURRENCY (Establishes "Digital Asset Business Act". 536, 2019-20 Leg., Reg. Sess. However, in February 2019, the New Mexico House introduced H.B. N.C. Gen. Stat. S.B. Although Pennsylvania doesn't have laws regulating blockchain or digital currency, there has been a step toward the right direction. Under Alabama Statute 40-23-199.2, the state affirmatively includes the "providing [of] a virtual currency that purchasers are allowed or required to use to purchase products from the marketplace seller" into the definition of a "marketplace facilitator." A bill relating to cybersecurity for information resources was recently adopted, which encourages state agencies and local government to consider using "next generation technologies, including cryptocurrency, blockchain technology, and artificial intelligence." However, on February 18, 2019, the Nevada Senate proposed S.B. Bitcoin transferees are not afforded the same protections as those afforded to the transferees of money. On September 20, 2018, Colorado's Division of Banking released Interim Regulatory Guidance entitled, "Cryptocurrency and the Colorado Money Transmitters Act." (R.I 2019). In November 2018, Ohio became the first state to allow companies to pay a variety of tax burdens with cryptocurrency. Sess. Sess. The Securities Division of the Office of the Secretary of State is charged with the implementation and enforcement of the Georgia Uniform Securities Act of 2008. The State's Department of Labor and Regulation has not issued guidance as to their applicability on virtual currencies. For these proprietors, often the first question asked when deciding whether to operate within a state is whether existing state money transmitter rules apply to the sale or exchange of virtual currencies. The distribution of this publication is not intended to create, and receipt of it does not constitute, an attorney-client relationship with Carlton Fields. On July 28, 2019, the Washington Senate passed a bill that recognizes "the validity of distributed ledger technology." (Va. 2019). A variety of tax bills are also proposing that the "providing a virtual currency that purchasers are allowed or required to use to purchase products from the marketplace seller" qualifies a person or business as a "marketplace facilitator" for state tax collection and remittance purposes. Code Regs. See H.R. Wyoming's law, at least with regard to its take on the application of state securities regulation, likely offers only theoretical comfort to those wishing to issue "Utility Tokens" through an Initial Coin Offering since Federal Securities Law (and the SEC's recent informal announcement that all tokens may, in fact, be securities), takes precedent over state law. Assemb., 439th Sess. the creation if the "Financial Technology Sandbox Act," whereas the adopted bill states that "Wyoming currently offers one of the best business environments in the United States for blockchain and financial technology innovators, and should offer a regulatory sandbox for these innovators to develop the next generation of financial technology products and services in Wyoming."
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