Libra raises $7.8 Million

Blockchain startup Libra has raised $7.8 million in a new series A funding round
27 November 2017   748

Libra designs cryptocurrency and blockchain-oriented accounting and tax software, and the new funds will be invested in the development of Libra Enterprise Platform, the startup stated.

According to Libra, funds came from such investors as VC firm Liberty City Ventures, cryptocurrency market maker XBTO, Lee Linden, a former employee of Facebook and unnamed family office based in Europe.

In 2014, New York-based, seed-stage investment fund Liberty City Ventures led a seed round where Libra has raised $500,000.

Libra's vision is to be the premier provider of next-generation accounting, audit, and tax software and data services for the blockchain and cryptocurrency industry.

 

Jake Benson

CEO, Libra

Recently, the company has taken an interest in the enterprise-level market, developing tools that are aimed in part at exchanges and other trading-oriented companies.

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   71

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.