The bill would have exempted certain advanced monetary forms from being controlled as securities under the Colorado Securities Act
blockchain Colorado bill, House Bill 1426, was a major state project to make its way through the State Council, but it exceeded all expectations on Wednesday in the vote.
HB 1426 had won the votes of the House and Senate but approval of the bill by the Senate was reversed when two senators changed their final vote. The final number on the third reading of the bill was 17 votes and 18 votes
Apparently the main point of contention was the open blockchain code, which is known as a "digital unit" "capable of being traded or transferred between persons without the interference of a third party." The open blockchain code will not meet the criteria as security if its issuers do not promote it as an investment and have not been replaced by a variety of goods or services, "will not be entered into the repurchase agreement
Apparently the main point of contention was the open blockchain code, which is known as a "digital unit" "capable of being traded or transferred between persons without the interference of a third party." The open blockchain code will not meet the criteria as security if its issuers do not promote it as an investment and have not been replaced by a variety of goods or services, "will not be entered into the repurchase agreement
If the digital currency does not qualify as an open blockchain, it will be considered safe and required to be registered as such from the outset. The bill was a risky proposition since the chairman of SEC Jay Clayton explained that he had not yet seen the ICOIf the digital currency does not qualify as an open blockchain, it will be considered safe and required to be registered as such from the outset. The bill was a risky proposition since the chairman of SEC Jay Clayton explained that he had not yet seen the ICO
The architect calls Colorado Blockchain BellThe architect calls Colorado Blockchain Bell
Despite his argument, the bill would have received much welcome for more sophistication in the state, and the start-up companies that have been given ICO more regulatory clarity than Wall Street Watch, the US Securities and Exchange Commission
The failure of the bill seems to have greatly upset Senator Tim Neville, a Republican and one of the architects of the bill, describing the result as "a major failure." The failure points for the bill were Attorney General Cynthia Kaufman and the Colorado Department of Regulatory Affairs. Prosecutor Cynthia Kaufman told the Denver Post
The language in HB14-26 that would have cut open blockchain codes of security definition under the Colorado Securities Act was very vague. The language had created immunity from the criminal responsibility of a person committing securities fraud in this context, which would endanger the consumers of Colorado. This is the main reason in my opposition to the bill
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This is not a copy and paste I wrote based on several articles and this is no longer copied
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