Nasdaq Considers Storing Asset Ownership Data on Blockchain

World-known stock exchange Nasdaq is considering the possibility of using blockchain for storing data on asset ownership
17 November 2017   367

According to the patent application, the company intends to use a distribution ledger to register asset owners, as well as use digital wallets to let owners to access these assets which are associated with a private cryptographic key.

Nasdaq would commit to a distributed network where each node would contain a copy of the blockchain’s information, according to the application.

The application states that despite the fact that the blockchain has a huge potential and users can maintain confidentiality through public technology - there are a need for further improvements in its effectiveness.

Earlier the company expressed concern about blockchain technology. It was said that the main problems are related to the integration of systems based on blockchain with other financial systems and technology can not be immediately implemented in existing systems.

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   82

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.