Florida Bill To Recognize Blockchain Smart Contracts

New bill would create a legal foundation for blockchain data and smart contracts in the U.S. state
11 January 2018   815

A lawmaker in Florida has introduced a bill on December 9 that, if passed, would create a legal foundation for blockchain data and smart contracts in the U.S. state.

House Bill 1357 presented multiple stipulations that blockchain and smart contracts be treated as legally-binding methods of data storage — provided that such measures do not break any pre-existing laws or regulations.

The bill also states that a record or contract that is secured through blockchain technology is in an electronic form and is an electronic record and confirms that a signature recorded through a blockchain also qualifies as a valid electronic signature.

A contract may not be denied legal effect or enforceability solely because: an electronic record was used in the formation of the contract and the contract contains a smart contract term.

 

House Bill 1357

Last year, Arizona passed a similar measure, with identical notes on confirming blockchain records as electronic records, as well as giving smart contracts legal force. We have also reported that Senator Alison Clarkson (D) from Vermont has proposed legislation that outlines a use case for government-based cryptocurrency solutions.

Bitfinex to Launch New Improved Fiat Deposit System

New system of deposists supports 4 popular currencies and requires KYC procedure completion
17 October 2018   114

Bitfinex Cryptocurrency Exchange has introduced a new system for fiat currencies deposits: the US dollar (USD), the British pound (GBP), the Japanese yen (JPY) and the euro (EUR). Now, the users who have completed the KYC procedure will create an application, indicating the deposit amount and currency, and the platform representatives will consider it within 48 hours.

Then, if approved, users will be sent the recipient's bank data, and the deposit itself will be credited to the account within 6-10 business days.

In this case, the minimum threshold of $ 10,000 was not abolished.

Earlier, Bitfinex had an anomalous growth of Bitcoin to the level of $ 7,788, which was associated with the possible collapse of Tether.

Nevertheless, the USDT price also stabilized, and representatives of the issuer said that the tokens were fully secured.