Nebraska Senators Consider Blockchain Bills

Lawmakers in Nebraska are considering four pieces of legislation concerning the blockchain and cryptocurrencies  
21 February 2018   508

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 Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   74

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.