Nebraska Senators Consider Blockchain Bills

Lawmakers in Nebraska are considering four pieces of legislation concerning the blockchain and cryptocurrencies  
21 February 2018   590

According to the report, four bills were introduced by two senators and now are being considered by three committees.

Senator Carol Blood of Bellevue offered three bills, he sees the measures as a way of boosting the nascent industry.

We want to have it in state statute that we embrace this technology. We can start a boom here in Nebraska without a tax credit, without tax-increment financing, without a grant.

Carol Blood

Senator of Bellevue

LB 691 would penalise those who commit illegal acts using cryptocurrency.

LB 694 would prohibit cities and counties from taxing or regulating distributed ledger technology.

LB 695 would make smart contracts enforceable.

Senator Paul Schumacher of Columbus offered the fourth measure.

It is a fascinating subject and just maybe an opportunity for the state to be at the leading edge, instead of where we usually are and that’s at the tail’s end.

Paul Schumacher

Senator of Columbus

LB 987 would require a license for some blockchain-related business transactions.

These measures are new for many in Nebraska. The blockchain technology is similar to the early days of the Internet.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.