The state government of California will study the potential and risks associated with the public and private uses of the blockchain, according to legislation passed by legislators and sent to the governor for signature.
This is among the updates of the digital currency, Blockchain, FinTech Regulatory Relief and ICO Tracker, available on Bloomberg Law, starting from the week of September 3 to 7, 2018. They include US federal, state, and US government actions concerning the 39; use of digital currency and blockchain, and regulatory enforcement actions and private classes – litigation against ICOs.
California: Assembly of Law 2658 approved by the Assembly and by the California Senate
- The Assembly and the California Senate have passed a law amending the # 39; Uniform Electronic Transactions Act to add a definition of blockchain as a "mathematically safe, chronological and decentralized" ledger or database ", and to request the operational age of the Ncy government of the General Services Department has appointed a group working to assess the use of the blockchain in the state government and in California businesses by July 1, 2019. The bill had been enlisted and submitted to the governor for signature starting September 5.  working group will assess: (1) the uses of blockchain in state and California administrations; (2) risks, including privacy risks, associated with the use of blockchain by the state government and Californian companies; (3) benefits associated with the use of blockchain by the state government and California companies; (4) legal implications associated with the use of blockchain by the state government and California companies; and (5) best practices to enable blockchain technology for the benefit of the state of California, California-based companies and residents of California.
FinTech Regulatory Relief
Asia: Singapore Monetary Authority and Dubai Financial Services Authority Sign FinTech Agreement