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Numerous bills focused on the blockchain have been around the state government of California. Elected officials are working to get them signed by Governor Jerry Brown.
News outside California concerning blockchain and cryptocurrency have been intriguing in recent months, to say the least.
In mid-August, a US federal court allowed a defendant to pay bail with Bitcoin.
In April, a company made headlines after purchasing a cryptocurrency monitoring application developed by a 16-year-old girl in India.
It is clear that residents and businesses in the state are expressing interest in blockchains and various virtual currencies. The legislators have certainly taken note.
A piece of legislation that focuses on blockchain is heading for Governor Jerry Brown's desk for a signature, and another seems to be right behind it.
State-wide Deepening of Blockchain [19659008] A bill, known as Bill of the 2658 Assembly, approved the Assembly of California on August 27 is now headed to the desk of Governor Jerry Brown.
If the bill is signed before September 30th, a working blockchain must be created by July 1 2019.
The group will be tasked with researching the benefits, risks and legal implications of blockchain for state governments and the private sector. The group would consist of 13 named persons, a member of the Senate and the California Assembly, as well as some other senior state officials.
Members would be required to share their findings with the California Legislature by July 1 st 2020.
This legislation was originally conceived by Ian Calderon, leader of the majority of the Assembly. According to Calderon, the state must convince people to develop the blockchain to keep California as a "global leader in the promotion of innovation and new technologies".
Overall, the leader of the Calderon Assembly thinks it is in the interest of the state "to encourage innovation with an investment in blockchain technology."
Assembly Bill 2658 is also the first case in which technology blockchain has been legally defined. He says that blockchain is:
[…] a mathematically protected, chronological, and decentralized ledger or database.
Another Relevant Bill Blockchain
Another legislative act focusing on the blockchain is Senate Bill 838. According to the history of the law, the legislation was ordered to win and register on August 31st. st
The California legislative process says that invoices are sent through the gripping process and registration once they have passed through both legislative houses.
If the legislation is signed, SB 838 would allow companies in California to "issue and transfer securities on a blockchain".
State Senator Robert Hertzberg created legislation to prove and "offer some vision and a willingness to risk future ideas."
While the legislative session ended on Friday, many are watching to see what Governor Brown will do with a number of laws on his desk.
Some believe that Brown could remodel the state significantly depending on the pieces he chooses to sign – and ignore. [19659003] Otherwise, blockchain has begun to make its way into the legislative rooms of other places in the United States.
Congressman Jared Polis, (D-Colorado), has added proposals related to the blockchain within its policy platform while campaigning for governor Polis, along with David Schweiker t, (R-Arizona), is also leading the nation's Blockchain Congress
Do you think these two pieces of legislation must be signed into law? Let us know in the comments below!
Images courtesy of Bitcoinist archives, Shutterstock.
