New legislation to regulate blockchain and cryptocurrencies proposed in Vermont

Senator Alison Clarkson (D) from Vermont has proposed legislation that outlines a use case for government-based cryptocurrency solutions
09 January 2018   233

Blockchain technology is rapidly gaining popularity in different aspects of real life and production. Pharmacologists and food suppliers are looking into ways to implement digital ledgers. So, no wonder, that the new round of legislation got proposed last week in Vermont to regulate and harness blockchain.

Alison Clarkson, the Windsor District Democrat, proposed a new bill detailing the use of digital assets tethered to blockchain and various digital currency solutions. Two most interesting parts are sections twelve and thirteen.

Section thirteen calls for research and report on risks and benefits of adopting blockchain technology and cryptocurrency operations in Vermont state government. This report will be reviewed various government officials and members of the Vermont Law School. Also Clarkson wants to create a dedicated cryptocurrency research and fintech Summit to explore opportunities that promote financial technology and economic development in the private sector, including in the areas of banking, insurance, retail and service businesses, and cryptocurrency providers and proponents, as quoted from the bill, published on Vermont government website.

Section twelve, in turn, is more along the regulatory lines. It talks about digital currency LLCs' physical presence in the state, taxation and possible exemptions for such companies. This section proposes the ability to pay taxes in cryptocurrency, if the company resides in Vermont. The S.269 proposal follows:

A digital currency limited liability company shall remit to the State in the form of its digital currency a transaction tax equivalent to $0.01, at the then current exchange rate for the currency with the U.S. dollar, per transaction for: each unit of currency mined or otherwise created; and each sale or other transfer of one or more units of currency.

Genesis Conference to be Held in London

Genesis Conference will cover research and development, regulation, economics and applications issues, taking place in London on February 22
22 February 2018   68

Genesis London Conference will take place on February 22, tackling the most pertinent issues in blockchain space: research and development, regulation, economics and applications.

Genesis London is a platform for researchers, developers and generally anyone interested in blockchain, and its priority is to share knowledge, facilitate productive discourse and filter out the hype.

Location: The CityPoint building, 1 Ropemaker St, London, EC2, UK
Date and time: 9:30AM - 8PM, February 22, 2018

The agenda of the conference includes Privacy and Confidentiality Techniques for Blockchains; Permissioned Business Blockchain Applications and Use-cases; Scalable, Transparent and Post-quantum Secure Computational Integrity, with Applications to Cryptocurrencies; A Rational Protocol Design Treatment of Bitcoin, and more.

The headline speakers include Patrick de Laive, co-founder of TNW; Margarita Khartanovich, head of insight at Binary District; Jack Gavigan, chief operating officer at ZCash; Jeremy Kahn, technology writer for Bloomberg, and many more.