ATB Coin proposed as an alternative to Venezuelan El Petro

ATB Coin developers offer the Government of Venezuela to use their coin as an official payment method
09 January 2018   213

Practically everyone by now have heard about the plans of Venezuela government to issue their own state-backed cryptocurrency El Petro. It will allow the country to reduce economical stagnation. But now there is an alternative, proposed by ATB Coin.

ATB coin creators proposed to implement their coin as a Venezuelan state cryptocurrency, thus eliminating several key hurdles along the way, such as lengthy development process, adoption delay by big exchanges and general populace. The transparency of working protocols, transaction security and speed, ability to work offline with codes for payment under “guaranteed check” principle – everything points to ATB Coin being a perfect alternative to, as of now, theoretical El Petro. Fast transactions will greatly help in real-world implementations and, of course, the public debt denominated in US dollars or Euros can be returned in a cryptocurrency that is not subject to inflation, which will greatly help the country's economical situation.

The latter is extremely important, since right now the country is in a lengthy spell of economical stagnation and suffers from increasing inflation. And ATB Coin project has significant experience in real sector of economy, not only working as a public fund transfer mechanism, but developing solutions for small and medium-sized businesses.

This announcement has already caused ATB Coin to more than double its price just in one day.  

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   78

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.