NCSL - National Conference of State Legislatures
08/05/2024 | Press release | Distributed by Public on 08/05/2024 09:04
Cryptocurrency, Digital or Virtual Currency and Digital Assets 2024 Legislation
Related Topic:Financial Services
Digital or virtual currencies are a medium of exchange, but are not regular money.
Unlike paper bills and coins, cryptocurrencies are not issued or backed by the U.S. government or any other government or central bank. The lack of a physical token to count and hold may confuse some. Rather, Bitcoin and other cryptocurrencies are a form of digital currency used in electronic payment transactions-no coins, paper money or banks are involved; there are zero to minimal transaction fees; transactions are fast and not bound by geography; and, like using cash, transactions are anonymous.
Digital currencies are stored in digital wallets, which are software or apps installed by users on their computer or mobile device.
Each digital wallet contains encrypted information, called public and private keys, that is used to send and receive the digital currency. All digital currency transactions are recorded in a virtual public ledger called the "blockchain," which is maintained by digital currency "miners." These miners can be anyone, anywhere in the world, who is willing to invest in the specialized computer hardware needed to rapidly process complex computations. Miners are awarded digital currency, like Bitcoin, Ripple, Dogecoin and Litecoin, in exchange for verifying each transaction and adding it to the blockchain.
At least 35 states, Puerto Rico and the District of Columbia have introduced or pending legislation regarding cryptocurrency, digital or virtual currencies and other digital assets in the 2024 legislative session.
Examples of enacted legislation include:
- Arkansas amended the Arkansas Data Centers Act of 2023, creating requirements for noise reduction in the operation of a digital asset mining business, clarifying the ability of a state resident to engage in home digital asset mining and prohibiting foreign party-controlled ownership of a digital asset mining business in the state.
- Colorado repealed its Digital Token Act.
- Georgia prohibited governmental agencies from using central bank digital currency as payment and from participating in testing the use of such currency.
- Louisiana provided for node operating and the use of home digital asset mining.
- Nebraska enacted legislation that provides that the Uniform Commercial Code (UCC) shall not be construed to support, endorse, create, or implement a national digital currency or central bank digital currency and adopts provisions regarding, among other things, controllable electronic records, control of intangible property, controllable accounts, controllable payment intangibles, hybrid transactions, negotiable instruments, transactions involving digital assets and security interest in digital assets and electronic money.
- New Hampshire enacted the Decentralized Autonomous Organization Act to establish regulations and the legal framework and operational guidelines for decentralized autonomous organizations (DAOs) in the state.
- South Dakota adopted a resolution opposing the adoption and development of a central bank digital currency.
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming District of Columbia American Samoa Guam Northern Mariana Islands Puerto Rico U.S. Virgin Islands
|
Jurisdiction |
Bill Number |
Bill Title |
Bill Status |
Bill Summary |
|
Alabama |
Digital Assets Regulation |
Failed - Adjourned |
Relates to digital assets; prohibits the state from restricting the use or the storage of digital assets, levying additional taxes on digital assets, restricting digital asset mining, or enacting zoning restrictions or noise restrictions specific to digital asset mining; and exempts digital asset mining, staking, and the operation of a node from classification as a security or money transmission. |
|
|
Alabama |
Digital Assets Regulation |
Failed - Adjourned |
Relates to digital assets; prohibits the state from restricting the use or the storage of digital assets, levying additional taxes on digital assets, restricting digital asset mining, or enacting zoning restrictions or noise restrictions specific to digital asset mining; exempts digital asset mining, staking, and the operation of a node from classification as a security or money transmission. |
|
|
Alabama |
Blockchain Study Commission |
Enacted |
Establishes the Alabama Blockchain Study Commission. |
|
|
Alaska |
Money Transmission |
Failed - Adjourned |
Relates to the business of money transmission; relates to money transmission licenses, licensure requirements, and registration through the Nationwide Multistate Licensing System and Registry; relates to the use of virtual currency for money transmission; relates to authorized delegates of a licensee; relates to acquisition of control of a license; relates to record retention and reporting requirements. |
|
|
Arizona |
State Retirement Systems and Digital Assets |
Failed - Adjourned |
Relates to state retirement systems; relates to digital assets. |
|
|
Arizona |
Income Tax and Currency Transactions |
Failed - Adjourned |
Relates to income tax; relates to currency transactions; relates to effects. |
|
|
Arizona |
Blockchain Technology and Tax and Fee and Prohibition |
Failed - Adjourned |
Relates to blockchain technology; relates to tax; relates to fee; relates to prohibition. |
|
|
Arizona |
State Agencies and Payments and Cryptocurrency |
Failed - Adjourned |
Relates to state agencies; relates to payments; relates to cryptocurrency. |
|
|
Arizona |
Virtual Currency and Property Tax Exemption |
Failed - Adjourned |
Exempts virtual currency from taxation; defines virtual currency as a digital representation of value that functions as a medium of exchange, a unit of account and a store of value other than a representation of the U.S. dollar or a foreign currency; provides for conditional enactment. |
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|
Arizona |
Central Bank Digital Currency and Ban |
Failed - Adjourned |
Relates to central bank digital currency; relates to ban. |
|
|
Arizona |
Central Bank Digital Currency and Ban |
Failed - Adjourned |
Relates to central bank digital currency; relates to ban. |
|
|
Arizona |
Property Tax Exemption and Virtual Currency |
Failed - Adjourned |
Relates to property tax exemption; relates to virtual currency. |
|
|
Arizona |
State Retirement Systems and Digital Assets |
Failed - Adjourned |
Relates to state retirement systems; relates to digital assets. |
|
|
Arkansas |
Data Centers Act of 2023 |
Adopted |
Authorizes the introduction of a non-appropriation bill to amend the state Data Centers Act of 2023 and to prohibit foreign-party-controlled ownership of a digital asset mining business. |
|
|
Arkansas |
Foreign Digital Asset Mining Software Prohibition |
Failed |
Authorizes the introduction of a non-appropriation bill to prohibit the use of a computer or software manufactured, assembled, or developed by a covered foreign entity in digital asset mining. |
|
|
Arkansas |
Data Centers Act of 2023 |
Failed |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023 and to amend the requirements for a digital asset mining business or business using a blockchain network. |
|
|
Arkansas |
Digital Asset Mining Business Requirement |
Failed |
Authorizes the introduction of a non-appropriation bill to require a digital asset mining business to provide notification before purchasing land or a building or beginning construction of a digital asset mining facility. |
|
|
Arkansas |
Data Centers Act of 2023 |
Failed |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023; regulates the impact on water usage and the electric grid by blockchain networks and digital asset mining. |
|
|
Arkansas |
Data Centers Act of 2023 |
Failed |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023; amends the Uniform Money Services Act. |
|
|
Arkansas |
Digital Asset Mining Business Requirement |
Failed |
Authorizes the introduction of a non-appropriation bill to require a digital asset mining business to pay a fee for extraordinary electrical energy usage. |
|
|
Arkansas |
Data Centers Acts of 2023 |
Adopted |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Acts of 2023, to regulate digital asset mining businesses and businesses utilizing a blockchain network and to declare an emergency. |
|
|
Arkansas |
Data Centers Act of 2023 |
Enacted |
Amends the Arkansas Data Centers Act of 2023; creates requirements for noise reduction in the operation of a digital asset mining business; clarifies the ability of a state resident to engage in home digital asset mining; prohibits foreign party-controlled ownership of a digital asset mining business in the state; provides that a prohibited foreign party shall not acquire or hold by grant, purchase, devise, descent, or otherwise any interest in a digital asset mining business in the state. |
|
|
Arkansas |
Digital Asset Mining Businesses |
Enacted |
Amends the Arkansas Data Centers Act of 2023; provides for the permitting and regulation of digital asset mining businesses; provides that a prohibited foreign party shall not acquire or hold by grant, purchase, devise, descent, or otherwise any interest in a digital asset mining business in the state; provides that a person shall not acquire or hold a digital asset mining business as an agent, trustee, or other fiduciary for a prohibited foreign party-controlled business. |
|
|
Arkansas |
Data Centers Act of 2023 Amendment |
Adopted |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023 and to prohibit foreign-party-controlled ownership of a digital asset mining business. |
|
|
Arkansas |
Digital Asset Mining Business Requirement |
Adopted |
Authorizes the introduction of a non-appropriation bill to require a digital asset mining business to pay a fee for extraordinary electrical energy usage. |
|
|
Arkansas |
Foreign Digital Asset Mining Software Prohibition |
Adopted |
Authorizes the introduction of a non-appropriation bill to prohibit the use of a computer or software manufactured, assembled, or developed by a covered foreign entity in digital asset mining. |
|
|
Arkansas |
Uniform Money Services Act |
Adopted |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023; amends the Uniform Money Services Act. |
|
|
Arkansas |
Data Centers Act of 2023 |
Adopted |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023; regulates the impact on water usage and the electric grid by blockchain networks and digital asset mining. |
|
|
Arkansas |
Digital Asset Mining Business Requirement |
Adopted |
Authorizes the introduction of a non-appropriation bill to require a digital asset mining business to provide notification before purchasing land or a building or beginning construction of a digital asset mining facility. |
|
|
Arkansas |
Data Centers Act of 2023 |
Adopted |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023 and to amend the requirements for a digital asset mining business or business using a blockchain network. |
|
|
Arkansas |
Data Centers Act of 2023 |
Adopted |
Authorizes the introduction of a non-appropriation bill to amend the Arkansas Data Centers Act of 2023, to regulate digital asset mining businesses and businesses utilizing a blockchain network and to declare an emergency. |
|
|
California |
Money Laundering: Blockchain Technology |
Pending |
Expands money laundering to include conducting a transaction involving a monetary instrument of specified value using blockchain technology. Expands the definition of a monetary instrument to include digital assets that use blockchain technology. |
|
|
California |
Unincorporated Associations: Decentralized Nonprofit |
Failed |
Adds provisions governing decentralized nonprofit associations, defined as an unincorporated association consisting of at least a specified number of members with a primary common purpose other than to operate a business for profit whose governance and operations are reliant, in full or in part, on a blockchain or other distributed ledger technology. |
|
|
California |
Nonfungible Token Marketplaces |
Failed |
Requires a nonfungible token marketplace to disclose the terms and conditions at the time the resident contracts with the nonfungible token marketplace. Requires that disclosure to be written in a manner that is understandable to a reasonable resident who uses the relevant services and to include, among other things, how fees and charges imposed by the nonfungible token marketplace will be calculated if they are not identified and disclosed in advance of a transaction. |
|
|
California |
Digital Financial Asset Businesses |
Pending |
Provides that the Digital Financial Assets Law prohibits a person from engaging in digital financial asset business activity, or holding itself out as being able to engage in digital financial asset business activity, with, or on behalf of, a resident, unless any of certain criteria are met, including that the person is licensed with the Department of Financial Protection and Innovation or the person submits an application on or before specified date and is awaiting approval. Extends the date. |
|
|
Colorado |
Repeal Colorado Digital Token Act |
Enacted |
Concerns the repeal of the Colorado Digital Token Act. |
|
|
Connecticut |
Virtual Currency and Money Transmission |
Enacted |
Concerns virtual currency and money transmission. |
|
|
Connecticut |
Treasurers Recommendations |
Enacted |
Implements the treasurer's recommendations concerning unclaimed property; provides that if the property presumed abandoned is a security, virtual currency or tangible property from a safe deposit box, the holder's notice shall indicate that such property may be liquidated either prior to or following its reporting to the treasurer and that after such liquidation will be limited to the proceeds of such liquidation. |
|
|
Delaware |
Unclaimed Property |
To governor |
Clarifies various aspects of the state's unclaimed property laws; clarifies and confirms current practice regarding the definition of foreign country or foreign jurisdiction; clarifies and confirms current practice regarding the definition of owner; provides that it is not intended to limit holder reimbursement claims, where a holder seeks to claim from the state previously reported property that the holder returned to the owner subsequent to the filing of the report. |
|
|
District of Columbia |
Uniform Commercial Code Amendment Act of 2024 |
Enacted |
Amends Subtitle I of Title 28 of the District of Columbia Official Code to add a new Article 12 Controllable Electronic Records, to provide rules for transactions involving digital assets, including cryptocurrency, non-fungible tokens and electronic promises to pay, and to provide for their negotiability and their perfection by control; makes conforming and related amendments to certain articles; provides transition rules to protect the expectations of parties to existing transactions and other purposes. |
|
|
Florida |
Virtual Currency Sales Tax Holiday |
Failed - Adjourned |
Provides sales tax exemption during specified period for certain sales from specified establishments paid in virtual currency. |
|
|
Florida |
State Legal Tender and Bullion Depository |
Failed - Adjourned |
Relates to state legal tender and bullion depository; provides for definitions; provides that specie legal tender and electronic currency are legal tender; provides that bullion is not personal property for taxation and regulatory purposes; provides that certain transactions of bullion do not give rise to tax liability; provides that exchange of one type or form of legal tender for another type or form of legal tender does not give rise to tax liability. |
|
|
Florida |
Virtual Currency Kiosk Businesses |
Failed - Adjourned |
Requires Office of Financial Regulation to supervise virtual currency kiosk businesses; provides legislative intent; prohibits virtual currency kiosk business from operating without registering; requires certain entities to be licensed as money services businesses; provides that registration is not transferable or assignable; specifies requirements for certain disclosures and attestations; requires registrant to transact business under its legal name. |
|
|
Florida |
Department of Financial Services |
Enacted |
Relates to the chief financial officer; creates the federal tax liaison position within the Department of Financial Services; renames a division in the department; removes provisions relating to duties of such division and to bureaus and offices in such division; provides that, upon a diagnosis of cancer, firefighters are entitled to certain benefits; provides the reimbursement schedule requirements for emergency services and care under workers' compensation. |
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|
Florida |
Fees and Virtual Currency Kiosks |
Failed |
Relates to nonrefundable fees for registration, registration renewal and late registration renewal applications for virtual currency kiosk businesses; provides that registration fees are not prorated. |
|
|
Florida |
Virtual Currency Sales Tax Holiday |
Failed |
Defines the terms convenience store and virtual currency; provides a sales tax exemption during a specified period for the retail sale of tangible personal property and services which is paid in virtual currency and is made by specified establishments. |
|
|
Florida |
Virtual Currency Kiosk Businesses |
Failed |
Prohibits a virtual currency kiosk business from operating without registering with the state; provides exemptions; requires certain entities to be licensed as money services businesses; provides criminal penalties for money transmitters that operate or solicit business as a virtual currency kiosk business under certain circumstances; provides criminal penalties for persons who register or attempt to register as a virtual currency kiosk business by certain means. |
|
|
Florida |
State Legal Tender and Bullion Depository |
Failed |
Relates to the state legal tender and bullion depository; provides definitions; provides that specie legal tender and electronic currency are legal tender; provides that bullion is not personal property for taxation and regulatory purposes; provides that certain transactions of bullion do not give rise to tax liability; provides that exchange of one type or form of legal tender for another type or form of legal tender does not give rise to tax liability. |
|
|
Florida |
Decentralized Autonomous Organizations |
Failed |
Authorizes a decentralized autonomous organization (DAO) to incorporate as a corporation or organize as a limited liability company if certain conditions are met; provides that a DAO member, participant, smart contract, algorithm, or wallet is not liable for actions, decisions, or liabilities of the DAO; authorizes DAOs to raise unlimited amounts of capital, subject to certain limitations and requirements. |
|
|
Florida |
Digital Trust Business |
Failed |
Prohibits certain entities from engaging in digital trust business without an application to and prior approval by the Office of Financial Regulation; authorizes a state bank or state trust company to exclusively engage in virtual trust business under certain circumstances; requires that the state banks or state trust companies' policies and procedures satisfy certain requirements; relates to establishing standards by rule which relate to stablecoin. |
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|
Florida |
Department of Financial Services |
Failed |
Renames the Division of Investigative and Forensic Services in the Department of Financial Services as the Division of Criminal Investigations; revises requirements for My Safe State Home Program mitigation inspections and mitigation grants; provides requirements for certain contracts entered and purchases made by the state Joint Underwriting Association; revises the duties of the state fire marshal. |
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|
Florida |
Fees and Virtual Currency Kiosk Business |
Failed |
Requires an applicant to submit a nonrefundable fee to apply to be registered as a virtual currency kiosk business. |
|
|
Georgia |
Blockchain Basics Act |
Failed - Adjourned |
Provides protections relating to the generation and use of virtual currency; excludes virtual currency mining activities from money transmission licensure requirements; provides liability protections for persons engaged in such activities; excludes such activities from the definition of a security; prohibits local governments from imposing certain restrictions on such activities; prohibits discriminatory electricity rates. |
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|
Georgia |
State Government |
Enacted |
Relates to state government, to prohibit governmental agencies from using central bank digital currency as payment and from participating in testing the use of such currency; provides for definitions; provides for legislative findings; provides for related matters; repeals conflicting laws. |
|
|
Georgia |
Uniform Commercial Code Modernization Act |
Enacted |
Relates to the commercial code to update and modernize various statutes in the commercial code relating to commercial transactions to maintain uniformity in this state's statutes governing commercial transactions as recommended by the National Conference of Commissioners on Uniform State Laws; establishes commercial law for transactions involving digital assets; adds a new specified article to the commercial code pertaining to controllable electronic records. |
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|
Guam |
None |
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Hawaii |
Digital Currency Companies |
Failed - Adjourned |
Establishes a licensing program that will replace the digital currency innovation lab; appropriates funds to the Department of Commerce and Consumer Affairs. |
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Hawaii |
Digital Currency |
Failed - Adjourned |
Prohibits the state from requiring any person to adopt or use digital currency. |
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Hawaii |
Addictive Online Activities Study |
Failed - Adjourned |
Urges the Department of Health to conduct a study to evaluate state's residents' engagement with addictive online activities. To better understand local participation in potentially addictive online activities, the Department of Health is urged to deploy as part of the study, a prevalence survey to measure social media, internet gaming, pornography, mobile phone use, gambling, and high-risk stock and crypto currency trading. |
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|
Hawaii |
Addictive Online Activities Study |
Failed - Adjourned |
Urges the Department of Health to conduct a study to evaluate state's residents' engagement with addictive online activities. To better understand local participation in potentially addictive online activities, the Department of Health is urged to deploy as part of the study, a prevalence survey to measure social media, internet gaming, pornography, mobile phone use, gambling, and high-risk stock and crypto currency trading. |
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|
Idaho |
Revised Unclaimed Property Act |
Enacted |
Relates to the Revised Unclaimed Property Act; establishes provisions regarding presumptions of when certain property is abandoned; provides for a presumption of abandonment for a tax-deferred retirement account; provides for a presumption of abandonment for other tax-deferred accounts; provides for a presumption of abandonment for custodial accounts for minors; provides for a presumption of abandonment for the contents of safe deposit boxes; provides for a presumption of abandonment for securities. |
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|
Idaho |
Digital Assets |
Failed |
Provides for the right to mine digital assets; establishes provisions for mining and transacting in digital assets; establish provisions for the operation of nodes; provides that digital assets used for payment are intangible personal assets exempt from taxation and to make technical corrections; prohibits certain central bank digital currency payments. |
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Idaho |
United Nations and World Economic Forum |
Failed - Adjourned |
States findings of the Legislature and expresses concern over the influence of the United Nations and the World Economic Forum in this state. |
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|
Idaho |
Bitcoin |
Failed |
Relates to the Distributed Ledger Technology Act; provides for the right to operate distributed ledger technology nodes; provides a right to self-custody and use of distributed ledger technology tokens; prohibits certain taxation and to provide for the application of state tax code; provides for the right to run distributed ledger technology nodes; declares an emergency. |
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|
Illinois |
Uniform Money Transmission Modernization Act |
Pending |
Makes a change in a provision concerning a letter of credit; sets forth provisions concerning orders to cease and desist and civil penalties; changes the definition of confidential supervisory information and digital asset business activity; changes references to the Financial Protection Fund to the Digital Assets Regulation Fund; sets forth provisions concerning a transition period for covered persons and exchanges. |
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|
Illinois |
State Trust Code |
Pending |
Amends the state Trust Code; requires a trustee to search for and claim any unclaimed or presumptively abandoned property; requires a trustee to maintain or cause to be maintained trust records for a minimum of a specified number of years after the dissolution of the trust; provides that, before destruction of trust records, a trustee must conduct a reasonable search for any trust property that is presumptively abandoned or that has been reported and remitted to a state unclaimed property administrator. |
|
|
Illinois |
Controllable Electronic Records Article |
Pending |
Amends the UCC to adopt changes recommended by the Uniform Law Commission with respect to the addition of a Controllable Electronic Records Article and transitional provisions and the amendment of other provisions of the Code; makes other changes. |
|
|
Illinois |
Cryptocurrency and Cryptocurrency Mining |
Pending |
Amends the Civil Administrative Code; defines cryptocurrency and cryptocurrency mining; changes the definition of qualifying data center to include data centers engaged in cryptocurrency mining that made or committed to make a capital investment over a 60-month period prior to the effective date of the amendatory act. |
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|
Illinois |
Corporate Fiduciary Act |
Pending |
Amends the Corporate Fiduciary Act to create the Special Purpose Trust Company Authority and Organization Article; provides that a corporation that has been or shall be incorporated under the general corporation laws of the state for the special purpose of providing fiduciary custodial services or providing other like or related services as specified by rule may be appointed to act as a fiduciary with respect to such services and shall be designated a special purpose trust company. |
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Illinois |
State Officials and Employees Money Disposition Act |
To governor |
Amends the state Officials and Employees Money Disposition Act; provides that examiners of unclaimed property which is reported and remitted to the state treasurer and custodians contracted by the state to hold presumptively abandoned securities or virtual currency may deduct fees prior to remittance in accordance with the Revised Uniform Unclaimed Property Act. |
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|
Illinois |
Uniform Money Transmission Modernization Act |
To governor |
Creates the Uniform Money Transmission Modernization Act; makes changes in provisions concerning letters of credit and provisions concerning the circumstances under which orders to suspend or revoke a license may be issued; adds a provision concerning cease and desist orders and civil penalties; provides that a provider of payroll processing services that was not licensed pursuant to the Transmitters of Money Act shall not be required to be licensed and comply with the act until the specified date. |
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Illinois |
Digital Assets Regulation Act |
Pending |
Creates the Digital Assets Regulation Act; provides that the Department of Financial and Professional Regulation shall regulate digital asset business activity in the state; sets forth provisions concerning; relates to applicability; relates to the powers and duties of the Department; relates to funds, customer protections, custody and protection of customer assets, covered exchanges, compliance, registration, supervision, records, additional procedural provisions, confidentiality, violations, enforcement. |
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Illinois |
Uniform Money Transmission Modernization Act |
Pending |
Creates the Uniform Money Transmission Modernization Act; provides that the provisions supersede the Transmitters of Money Act; sets forth provisions concerning money transmission licenses, acquisition of control, reports and records, authorized delegates, timely transmission, refunds and disclosures, prudential standards, enforcement; repeals the Transmitters of Money Act; makes other changes. |
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|
Illinois |
Controllable Electronic Records Article |
To governor |
Amends the UCC to adopt changes recommended by the Uniform Law Commission with respect to the addition of a Controllable Electronic Records Article and transitional provisions; relates to the Transmitters of Money Act; provides that specified secured transactions are subject to the Predatory Loan Prevention Act, the Consumer Fraud and Deceptive Business Practices Act and other related statutes or regulations. |
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|
Illinois |
Digital Asset Kiosks |
Pending |
Amends the Digital Assets Regulation Act; provides that an operator shall not accept or dispense more than a specified sum or equivalent monetary value in a day from or to a customer via a digital asset kiosk; sets forth provisions concerning customer disclosures, reporting physical addresses and implementation of the provisions. |
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|
Illinois |
Environmental Protection Act |
Pending |
Amends the Environmental Protection Act; provides that cryptocurrency mining facilities shall apply noise-reduction techniques, including certain specified techniques; provides that the Pollution Control Board shall adopt rules implementing these provisions; provides that the Environmental Protection Agency, as the noise control agency for the state, shall enforce these provisions, as well as the rules adopted under these provisions. |
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Indiana |
Digital Assets Usage |
Failed - Adjourned |
Relates to use of digital assets; provides an income tax deduction for short term or long-term capital gain that is attributable to the sale or exchange of digital assets in a transaction and that is included in federal adjusted gross income, in an amount not to exceed a specified amount per transaction for the 2024 taxable year and adjusted annually for inflation each taxable year thereafter. |
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Indiana |
Bullion Depositories and Legal Tender |
Failed - Adjourned |
Relates to bullion depositories and legal tender; defines bullion as refined silver or gold, in any shape or form, that has certain specified characteristics; defines specie as bullion that is fabricated into products that are, of uniform shape, size, design, content, weight and purity, and suitable for, or customarily used as, currency or a medium of exchange. |
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Indiana |
Electronic Payments to Governmental Bodies |
Failed - Adjourned |
Relates to electronic payments to governmental bodies; amends the definition of electronic payment for purposes of the statute governing electronic payments to a governmental body (defined as the state or a state agency) to include a payment made by means of any of the following, relates to interactive voice response; relates digital wallet; relates to digital currency; provides that after a specified date, a governmental body may not enter into or renew a contract. |
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Indiana |
State Offices and Administration |
Enacted |
Prohibits a governmental body from accepting payment made with a central bank digital currency or requiring payment to be made with a central bank digital currency for any service, tax, license, permit, fee, information, or other amount due the governmental body; prohibits an administrative branch governmental body from advocating for or supporting the testing, adoption, or implementation of a central bank digital currency by the U.S. government. |
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Iowa |
Commercial Transactions |
Failed |
Relates to commercial transactions; includes control and transmission of electronic records and digital assets. |
|
|
Iowa |
Use of Central Bank Digital Currency by State Entities |
Failed - Adjourned |
Relates to the use of central bank digital currency by state entities. |
|
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Iowa |
Commercial Transactions |
Failed |
Relates to commercial transactions, including control and transmission of electronic records and digital assets. |
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Iowa |
Commercial Transactions |
Failed - Adjourned |
Relates to commercial transactions, including control and transmission of electronic records and digital assets. |
|
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Iowa |
Treasurer of State Duties |
Failed - Adjourned |
Relates to the treasurer of state's duties, including Iowa educational savings plan trust and Iowa able savings plan trust requirements and disposition of unclaimed property; includes effective date and retroactive applicability provisions. |
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Iowa |
Uniform Commercial Code Controllable Electronic Records |
Enacted |
Provides that a person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record, or a system in which the electronic record is recorded gives the person, among other things, the power to avail itself of substantially all the benefit from the electronic record; provides for hybrid transactions; provides that the obligation of a party to pay a check is not discharged solely by destruction of the check. |
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|
Kansas |
Use of Cryptocurrency in Campaign Finance Contributions |
Failed |
Relates to prohibiting the use of cryptocurrency for campaign finance contributions and removing the prohibition on the use of political funds subject to reporting under the Campaign Finance Act for the campaign of a candidate for federal elective office. |
|
|
Kansas |
Specie Legal Tender Act and Bullion Depository Act |
Failed - Adjourned |
Relates to enacting the Kansas Specie Legal Tender Act and the Kansas Bullion Depository Act, authorizing the state treasurer to approve electronic currencies backed by specie legal tender and establish, administer or contract for the administration of bullion depositories and allowing for state moneys to be deposited in such bullion depositories and invested in specie legal tender. |
|
|
Kansas |
The Specie Legal Tender Act and Bullion Depository Act |
Failed - Adjourned |
Relates to enacting the Kansas Specie Legal Tender Act and the State Bullion Depository Act, authorizing the state treasurer to approve electronic currencies backed by specie legal tender and establish, administer or contract for the administration of bullion depositories and allowing for state moneys to be deposited in such bullion depositories and invested in specie legal tender. |
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Kentucky |
Blockchain Digital Assets |
Failed - Adjourned |
Defines terms relating to blockchain technology; allows individuals to use digital assets and self-hosted wallets; provides an exemption of income tax for transactions less than a specified amount; allows home digital asset mining and digital asset mining businesses to operate within local ordinances relating to noise pollution. |
|
|
Kentucky |
Uniform Commercial Code |
Enacted |
Relates to the UCC; provides that a claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in a signed record; provides that, with exceptions, certain provisions apply to a transaction in goods; provides that, in a hybrid transaction, if the sale-of-goods aspects do not predominate, only the provisions which relate primarily to the sale-of-goods aspects of the transaction apply. |
|
|
Louisiana |
Central Bank Digital Currency |
Enacted |
Provides that a deposit account does not include a central bank digital currency; provides that a deposit account does not include a central bank digital currency; defines the term central bank digital currency. |
|
|
Louisiana |
Commerce |
Enacted |
Relates to digital assets and cryptocurrency; prohibits certain government regulations of digital assets; provides for a short title; provides for definitions; prohibits governing authorities from requiring use, payment, or testing of central bank digital currency; provides for node operating and the use of home digital asset mining; to provide for exceptions; provides for limitations of liability; provides relative to certain foreign-party-controlled businesses. |
|
|
Louisiana |
Commercial Regulations |
Failed - Adjourned |
Provides relative to the formation and administration of decentralized unincorporated nonprofit associations. |
|
|
Louisiana |
Commercial Regulations |
Enacted |
Relates to the regulation and licensure of virtual currency businesses; provides relative to the authority, functions and duties of the office of financial institutions. |
|
|
Louisiana |
Transitional Provisions for Uniform Commercial Code |
Enacted |
Relates to transactions involving existing and new classes of assets; provides for new types of digital assets and security interests in digital assets; provides for tethered digital assets; provides for take-free rules for digital assets; provides for the governing law for digital assets; relates to chattel paper, hybrid transactions and the negotiability of certain instruments; updates terminology; specifies when a person has control of a controllable electronic record. |
|
|
Louisiana |
Retirement Systems |
Failed - Adjourned |
Creates the Digital Asset Investment Task Force. |
|
|
Maine |
National 2022 Amendments to the Uniform Commercial Code |
Enacted |
Relates to adopting the National 2022 Amendments to the UCC; provides factors relevant to whether a term is conspicuous; provides for transactions in goods and hybrid transactions; changes certain references to writing to the term record, in furtherance of medium neutrality; provides for controllable electronic records. |
|
|
Maine |
Money Transmitters Act |
Enacted |
Replaces the Money Transmitters Act; relates to the State Money Transmission Modernization Act. |
|
|
Maryland |
High Energy Use Facilities Greenhouse Gas Emissions |
Failed - Adjourned |
Requires a person that owns, operates, or controls a high energy use facility to ensure greenhouse gas emissions associated with the electricity used by the facility are reduced by certain amounts by certain years; prohibits a person from using certain methods to meet the emissions reduction targets established under the Act; requires the Public Service Commission to review and verify a certain report submitted by each person that owns, operates, or controls a high energy use facility. |
|
|
Massachusetts |
Blockchain and Cryptocurrency |
Pending |
Establishes a special commission on blockchain and cryptocurrency. |
|
|
Massachusetts |
Cryptocurrencies and Digital Assets |
Pending |
Provides that the Office of the State Treasurer develop and periodically review and update a digital module and resources on cryptocurrencies and digital assets. |
|
|
Massachusetts |
Blockchain and Cryptocurrency |
Pending |
Establishes a special commission on blockchain and cryptocurrency. |
|
|
Massachusetts |
Consumers in Cryptocurrency Exchanges |
Pending |
Protects consumers in cryptocurrency exchanges. |
|
|
Massachusetts |
Personal Financial Literacy Curriculum |
Pending |
Relates to establishing a personal financial literacy curriculum in schools. Includes a basic understanding of cryptocurrencies in the financial literacy standards. |
|
|
Michigan |
Guardians and Conservators |
Pending |
Modifies financial duties, provides that a conservator shall not invest estate property in cryptocurrency. |
|
|
Minnesota |
Defines Central Bank Digital Currency |
Failed - Adjourned |
Relates to commerce; defines central bank digital currency and revising the definition of money for purposes of the UCC. |
|
|
Minnesota |
Uniform Commercial Code Amendments |
Enacted |
Relates to commerce; adopts amendments to the UCC to accommodate emerging technologies. |
|
|
Minnesota |
Department of Commerce Housekeeping Changes |
Failed |
Relates to commerce; adds, modifies, or eliminates provisions governing consumer protection, monetary and financial institutions policy, insurance and telecommunications; modifies and authorizes certain on-sale liquor licenses; makes technical changes; requires reports; establishes penalties. Regulates virtual currency kiosks. |
|
|
Minnesota |
Department of Commerce Housekeeping Changes |
Failed - Adjourned |
Relates to energy; establishes a supplemental budget for energy, transmission and renewable energy purposes; adds and modifies provisions governing geothermal energy, electric transmission, solar energy and other energy policy. Includes data mining facilities. |
|
|
Minnesota |
Virtual-Currency Kiosks |
Failed - Adjourned |
Relates to commerce; regulates disclosures and consumer protections related to virtual-currency kiosks. |
|
|
Minnesota |
Energy |
Failed - Adjourned |
Relates to energy; allows public utilities providing electric service to propose goals for efficient fuel-switching improvement achievements to the commissioner of commerce; authorizes the commission to approve a financial incentive for public utilities providing electric service to implement efficient fuel-switching improvements; allows recovery of certain advertising expenses of public utilities. |
|
|
Minnesota |
Virtual Currency |
Failed - Adjourned |
Relates to commerce; defines terms relating to virtual currency; adds additional disclosure requirements for virtual currency transactions. |
|
|
Minnesota |
Taxation |
Enacted |
Relates to the operation and financing of state government; modifies trunk highway bonds, transportation policy, combative sports, construction codes and licensing, the Bureau of Mediation Services, the Public Employee Labor Relations Act, employee misclassification, earned sick and safe time, University of Minnesota collective bargaining, broadband and pipeline safety, housing policy and transportation network companies. |
|
|
Minnesota |
Relates to Commerce |
Enacted |
Relates to commerce; adds, modifies various provisions related to insurance; regulates financial institutions; modifies provisions governing financial institutions; provides for certain consumer protections and privacy; modifies provisions governing commerce; makes technical changes; establishes civil and criminal penalties; authorizes administrative rulemaking. Regulates virtual currency kiosks. |
|
|
Minnesota |
Uniform Commercial Code |
Failed - Adjourned |
Relates to commerce; adds and modifies UCC definitions pertaining to currency. |
|
|
Minnesota |
Energy Fuel-Switching Improvements |
Failed - Adjourned |
Relates to energy; allows public utilities providing electric service to propose goals for efficient fuel-switching improvement achievements to the commissioner of commerce; authorizes the commission to approve a financial incentive for public utilities providing electric service to implement efficient fuel-switching improvements; allows recovery of certain advertising expenses of public utilities. |
|
|
Minnesota |
Uniform Commercial Code |
Failed - Adjourned |
Relates to commerce; adopts amendments to the UCC to accommodate emerging technologies. |
|
|
Minnesota |
Virtual-Currency Kiosks |
Failed - Adjourned |
Relates to commerce; regulates disclosures and consumer protections related to virtual-currency kiosks. |
|
|
Minnesota |
Virtual Currency |
Failed - Adjourned |
Relates to commerce; defines terms relating to virtual currency; adds additional disclosure requirements for virtual currency transactions. |
|
|
Minnesota |
Supplemental Agriculture Appropriations |
Enacted |
Relates to state government; amends agriculture policy provisions; establishes and modifying agriculture programs; provides broadband appropriation transfer authority; requires an application for federal broadband aid; establishes a supplemental budget for energy, transmission and renewable energy purposes; adds and modifies provisions governing geothermal energy, solar energy and other energy policy; establishes the Minnesota Energy Infrastructure Permitting Act. |
|
|
Mississippi |
Central Bank Digital Currency Prohibition |
Failed |
Prohibits governmental entities from using a central bank digital currency; defines the terms governmental entity and central bank digital currency; provides that the term money does not include a central bank digital currency. |
|
|
Mississippi |
Blockchain Basics Act |
Failed |
Establishes the Blockchain Basics Act for the purpose of regulating the use of digital assets and cryptocurrency in the state; defines terminology used in the act; prohibits any government agency of the state any political subdivision thereof from accepting or requiring a payment using central bank digital currency and from participating in any test of central bank digital currency by any federal reserve branch. |
|
|
Mississippi |
Central Bank Digital Currency |
Failed |
Defines the term central bank digital currency; provides that the term money does not include a central bank digital currency; excludes central bank digital currency from the terms check, monetary value and personal money order; relates to the state money transmitters act, for purposes of possible amendment. |
|
|
Mississippi |
Mississippi Bullion Depository |
Failed |
Establishes the Mississippi Bullion Depository; defines the term legal tender as specie legal tender and electronic or digital currency whose entire and exclusive value is correlated against the market value of gold or silver; defines other terms relating to the depository; provides that such depository is established to serve as the custodian, guardian and administrator of certain bullion and specie that may be transferred to or otherwise acquired by the state or an agency, department, institution. |
|
|
Mississippi |
Mississippi Bullion Depository |
Failed |
Establishes the Mississippi Bullion Depository; defines the term legal tender as specie legal tender and electronic and/or digital currency whose entire and exclusive value is correlated against the market value of gold or silver; defines other terms relating to the depository; provides that such depository is established to serve as the custodian, guardian and administrator of certain bullion and specie that may be transferred to or otherwise acquired by the state. |
|
|
Missouri |
Use of Central Bank Digital Currency |
Failed - Adjourned |
Prohibits governmental agencies from testing or requiring the use of a central bank digital currency. |
|
|
Missouri |
Regulation and Use of Gold and Silver |
Failed - Adjourned |
Modifies and creates new provisions related to the regulation and use of gold and silver. |
|
|
Missouri |
Constitutional Money Act |
Failed - Adjourned |
Establishes The Constitutional Money Act which regulates the treatment and use of gold and silver. |
|
|
Missouri |
Digital Asset Mining |
Failed - Adjourned |
Establishes provisions relating to digital asset mining. |
|
|
Missouri |
Gold and Silver |
Failed - Adjourned |
Creates and modifies provisions relating to gold and silver. |
|
|
Missouri |
Commercial Transactions |
Failed - Adjourned |
Modifies provisions that relate to commercial transactions. |
|
|
Missouri |
State Retirement Funds |
Failed - Adjourned |
Urges state retirement funds to investigate expanding to bitcoin and other digital currencies. |
|
|
Missouri |
Use of Central Bank Digital Currency |
Failed - Adjourned |
Discourages the use of central bank digital currency. |
|
|
Missouri |
Gold and Silver |
Failed - Adjourned |
Creates and modifies provisions relating to gold and silver. |
|
|
Missouri |
State Treasurer Investments in Linked Deposits |
Failed - Adjourned |
Increase the limit on investments in linked deposits by the state treasurer. |
|
|
Missouri |
Central Bank Digital Currency |
Failed - Adjourned |
Creates new provisions relating to central bank digital currency. |
|
|
Missouri |
Provisions Relating to Legal Tender |
Failed - Adjourned |
Creates and modifies provisions relating to legal tender. |
|
|
Missouri |
Digital Mining |
Failed - Adjourned |
Creates new provisions relating to digital mining. |
|
|
Missouri |
Commercial Transactions |
Failed - Adjourned |
Modifies provisions relating to commercial transactions. |
|
|
Missouri |
Digital Assets |
Failed - Adjourned |
Creates new provisions relating to digital assets. |
|
|
Missouri |
Concern Concerning Policies of Certain Organizations |
Failed - Adjourned |
Expresses the concern of the General Assembly regarding policies of international organizations that advocate for policies that could undermine the core values and interests of Missouri's residents. |
|
|
Montana |
No 2024 regular session |
|||
|
Nebraska |
Uniform Commercial Code |
Enacted |
Provides that the UCC shall not be construed to support, endorse, create, or implement a national digital currency or central bank digital currency; adopts provisions regarding, among other things, controllable electronic records, control of intangible property, controllable accounts, controllable payment intangibles, hybrid transactions, negotiable instruments, transactions involving digital assets and security interest in digital assets and electronic money. |
|
|
Nebraska |
Central Bank Digital Currency Prohibition |
Failed - Adjourned |
Prohibits acceptance of central bank digital currency by state and local governments. |
|
|
Nebraska |
Controlled Substance Offenses Forfeiture Act |
Failed - Adjourned |
Adopts the Controlled Substance Offenses Forfeiture Act and change provisions relating to forfeiture. |
|
|
Nebraska |
Blockchain Basics Act |
Failed - Adjourned |
Adopts the Blockchain Basics Act. |
|
|
Nebraska |
Gold or Silver Bullion Tax Liability Prohibition |
Failed - Adjourned |
Prohibits tax liability on the purchase, sale, or exchange of gold or silver bullion, change sales tax exemption provisions relating to currency and bullion, and provide an income tax adjustment for net capital losses and gains of the sale or exchange of gold or silver. |
|
|
Nebraska |
Good Life District Economic Development Act |
Enacted |
Adopts the Good Life District Economic Development Act, the Financial Institution Data Match Act and the Gambling Winnings Setoff for Outstanding Debt Act; requires certain actions relating to underutilized tax-exempt property and certain parimutuel, lottery, gaming and gambling winnings; redefines a term under the Community Development Law; changes provisions and defines and redefines terms relating to health insurance coverage for first responders and dependents. |
|
|
Nebraska |
Interim Study |
Failed - Adjourned |
Allows for an interim study to examine the impact of digital asset data mining on Nebraska public power districts, electric ratepayers and communities. |
|
|
Nevada |
No 2024 regular session |
|||
|
New Hampshire |
Privacy Rights |
Pending |
Provides that no currency, whether tangible, digital, or otherwise, which inherently compromises privacy by provision of transaction or usage details to any government agency or partner, allows programming of prohibited or mandatory uses, has the ability to block or refuse any lawful transactions, can be connected to any form of credit score, can be programmed with an expiration date, or can be programmed with non-market driven inflation, may be used as legal tender by any entity for any debts in the state. |
|
|
New Hampshire |
New Hampshire Decentralized Autonomous Organization Act |
Enacted |
Establishes regulations and the legal framework and operational guidelines for decentralized autonomous organizations (DAOs) in the state; provides for provisions on judicial deregistration, forks in blockchains, restructuring, failure events and the application of general business organization law and other relevant laws; provides for the New Hampshire DAO registry. |
|
|
New Hampshire |
Central Bank Digital Currency |
Pending |
Prohibits the state treasurer, state agencies and political subdivisions from accepting a payment using central bank digital currency or participating in a test of central bank digital currency by any Federal Reserve branch. |
|
|
New Hampshire |
Regulation of Money Transmitters |
To governor |
Adopts the Model Money Transmission Modernization Act; adjusts renewal procedures for certain consumer credit entities to align with those in the model money transmission; regulates secondary ticket exchanges, ticket issuers and resellers; encourages the investment advisor for the public deposit investment pool to place funds ordinarily held by the public deposit investment pool in bank deposits with eligible state or federally chartered banks. |
|
|
New Hampshire |
Local Regulation of Digital Mining |
Pending |
Adds limits to the regulatory powers of political subdivisions over digital asset mining businesses. |
|
|
New Hampshire |
Legal Tender Act |
Pending |
Relates to establishing the New Hampshire Legal Tender Act and establishing a state Bullion Depository; creates the New Hampshire Legal Tender Act; establishes gold and silver as legal tender; establishes a state depository; enables digital use of gold and silver. |
|
|
New Jersey |
Digital Payment Platform |
Pending |
Requires the Department of Treasury to review and approve a digital payment platform. |
|
|
New Jersey |
Financial Literacy Instruction |
Pending |
Requires public high school students to receive financial literacy instruction on higher education costs, student financial assistance and cryptocurrencies. |
|
|
New Jersey |
Digital Asset and Blockchain Technology Act |
Pending |
Relates to the Digital Asset and Blockchain Technology Act and Nationwide Multistate Licensing System; provides that the Bureau of Securities in the Division of Consumer Affairs in the Department of Law and Public Safety shall have the authority to determine whether a person is required to be licensed; provides that the bureau may deny, suspend or revoke a digital asset business license under certain conditions, including but not limited to upon finding that such actions are in the public interest. |
|
|
New Jersey |
Virtual Currency and NFTs |
Pending |
Includes virtual currency and NFTs in definition of gift as applicable to public officials. |
|
|
New Jersey |
Virtual Currency and Blockchain Regulation Act |
Pending |
Relates to Virtual Currency and Blockchain Regulation Act. |
|
|
New Jersey |
Digital Asset and Blockchain Technology Act |
Pending |
Concerns digital assets and blockchain technology; prohibits license to be required if the subject of the digital asset business activity is a digital asset that is a digital consumer asset that is used solely within online gaming platforms, has no market or application outside of those gaming platforms and cannot be converted into, or redeemed for, fiat currency or virtual currency; provides that it can be redeemed for goods, services, discounts, or purchases as part of a customer affinity. |
|
|
New Jersey |
Digital Payment Platform |
Pending |
Requires Department of Treasury to review and approve digital payment platform. |
|
|
New Jersey |
Public Officials Gift Restrictions |
Pending |
Prohibits public officials from accepting virtual currency and non-fungible tokens as gifts. |
|
|
New Mexico |
Revised Uniform Unclaimed Property Act |
Failed - Adjourned |
Relates to Revised Uniform Unclaimed Property Act. |
|
|
New York |
Disclosures in Advertisements Involving Virtual Tokens |
Pending |
Requires certain disclosures in advertisements involving virtual tokens. |
|
|
New York |
Offenses of Virtual Token Fraud |
Pending |
Establishes the offenses of virtual token fraud, illegal rug pulls, private key fraud and fraudulent failure to disclose interest in virtual tokens. |
|
|
New York |
Cryptocurrency and Blockchain Task Force |
Pending |
Establishes the New York State Cryptocurrency and Blockchain Study Task Force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state. |
|
|
New York |
Disclosures in Advertisements Involving Virtual Tokens |
Pending |
Requires certain disclosures in advertisements involving virtual tokens. |
|
|
New York |
State Agencies and Cryptocurrencies |
Pending |
Establishes that state agencies are allowed to accept cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash as payment. |
|
|
New York |
Task Force to Study State Issued Cryptocurrency |
Pending |
Establishes a task force to study the impact of a state-issued cryptocurrency on the state of New York. |
|
|
New York |
Task Force to Study Economic Empowerment Zones |
Pending |
Establishes a task force to study the potential designation of economic empowerment zones for the mining of cryptocurrencies in the state of New York. |
|
|
New York |
Fiat Collateralized Stablecoins |
Pending |
Amends the Criminal Procedure Law; authorizes fiat-collateralized stablecoins as a form of bail; directs the commissioner of taxation and finance, in conjunction with the chief justice of the unified court system and the director of the office of information technology services, to promulgate rules and regulations identifying forms of fiat-collateralized stablecoin acceptable for posting bail to establish a system for the administration of the acceptance, recording and processing of stablecoins. |
|
|
New York |
Limited Purpose Trust Companies |
Pending |
Establishes requirements for the creation and operation of limited purpose trust companies; establishes how to apply to operate as a limited purpose trust company. |
|
|
New York |
State Cryptocurrency and Blockchain Study Task Force |
Pending |
Establishes the state Cryptocurrency and Blockchain Study Task Force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state. |
|
|
New York |
2022 Uniform Law Commission Recommended Amendments |
Pending |
Incorporates the 2022 Uniform Law Commission recommended amendments to the UCC to provide for emerging technologies; addresses emerging technologies, providing updated rules for commercial transactions involving virtual currencies, distributed ledger technologies (including blockchain), artificial intelligence and other technological developments. |
|
|
New York |
Election Contributions |
Pending |
Amends the Election Law; provides that election contributions made in cash, or in bitcoin or any other form of cryptocurrency are not matchable for purposes of public financing. |
|
|
New York |
Crypto Fraud Offenses |
Pending |
Establishes certain offenses relating to crypto fraud. |
|
|
New York |
Disclosures in Advertisements |
Pending |
Requires certain disclosures in advertisements involving virtual tokens. |
|
|
New York |
Task Force on State Issued Cryptocurrency |
Pending |
Establishes a task force to study the impact of a state-issued cryptocurrency on the state of New York. |
|
|
New York |
Office of Financial Resilience |
Pending |
Establishes the Office of Financial Resilience to develop and implement new programs and initiatives for the purpose of supporting local economies and promoting resilient financial models. |
|
|
New York |
Uniform Commercial Code |
Pending |
Relates to control of electronic records for the purposes of the UCC. |
|
|
New York |
Study on Powering Cryptocurrency Mining Facilities |
Pending |
Directs the New York State Energy Research and Development Authority to conduct a study on powering cryptocurrency mining facilities with renewable energy. |
|
|
New York |
Digital Currency Task Force |
Pending |
Creates the digital currency task force to provide the governor and the legislature with information on the potential effects of the widespread implementation of digital currencies on financial markets in the state. |
|
|
New York |
New York State Cryptocurrency and Blockchain Study Act |
To governor |
Establishes the state Cryptocurrency and Blockchain Study Task Force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state; requires a report with certain information, including a review of the digital currency, cryptocurrency and blockchain industries and the number of digital currencies currently being traded. |
|
|
New York |
Requirements for Limited Purpose Trust Companies |
Pending |
Establishes requirements for the creation and operation of limited purpose trust companies; establishes how to apply to operate as a limited purpose trust company. |
|
|
North Carolina |
Base Budget Appropriations |
Pending |
Makes base budget appropriations for current operations of state agencies, departments and institutions. |
|
|
North Carolina |
Financial Crime Offenses |
Enacted |
Criminalizes money laundering and to revise certain larceny laws; provides that whoever, without authority, willfully transfers any price tag, product code, or other price mechanism, from goods or merchandise to other goods or merchandise having a selling price more than $200 higher than the price tag, product code, or other price mechanism from which the price tag, product code, or other pricing mechanism was transferred and then presents said goods for purchase is guilty of felony. |
|
|
North Carolina |
No Cryptocurrency Payments to State |
Override Pending |
Prohibits payments to the state using central bank digital currency or participation by the state in federal reserve branch testing of central bank digital currency. |
|
|
North Carolina |
State Bullion Depository |
Pending |
Studies the holding of bullion and virtual currency and their potential benefits and whether to establish a state bullion depository for such assets. |
|
|
North Carolina |
Cryptocurrency Mining |
Pending |
Allows Henderson, Polk and Rutherford counties to prohibit cryptocurrency mining as an allowable use in any zoning district. |
|
|
North Dakota |
No 2024 regular session |
|||
|
N. Mariana Islands |
Not available |
|||
|
Ohio |
Uniform Commercial Code |
Pending |
Excludes central bank digital currencies from being treated as money under the Ohio UCC. |
|
|
Ohio |
Uniform Commercial Code |
Pending |
Excludes central bank digital currencies from being treated as money under the state UCC. |
|
|
Ohio |
Blockchain Basi. cs |
Pending |
Prohibits certain state and local government actions respecting digital asset mining, exempts certain digital currency transactions from state and local income taxes; prohibits local charges on digital assets; requires the state retirement systems to evaluate certain digital asset investments; names this act the state Blockchain Basics. |
|
|
Oklahoma |
Digital Asset Mining |
Enacted |
Relates to digital asset mining; relates to manufacturing tax exemptions; creates an exemption for certain purchases related to the mining of digital assets; provides definitions. |
|
|
Oklahoma |
Uniform Commercial Code |
Enacted |
Relates to the UCC; relates to sales; deletes exception to the applicability of transactions in goods; provides for the applicability of hybrid transactions; provides exceptions to applicability provision; adds signed records to certain exception; relate to leases; expands the scope of leases to include hybrid leases; provides guidelines for hybrid leases; relates to negotiable instruments; deletes certain requirements for when a signature may be made. |
|
|
Oklahoma |
Uniform Commercial Code |
Failed - Adjourned |
Relates to the UCC; relates to general definitions; defines central bank digital currency; modifies definition; provides an effective date. |
|
|
Oklahoma |
Home Digital Asset Mining |
Enacted |
Relates to blockchains; directs that the state government not take certain actions; prohibits subjecting payment with digital assets to additional tax, withholding, assessment, or charge; authorizes certain home digital asset mining; authorizes certain digital asset mining businesses; limits certain actions by political subdivisions; permits certain appeals of certain zoning changes; directs the state Corporation Commission to not create certain discriminatory rate; relates to money transmitter license. |
|
|
Oklahoma |
Digital Asset Mining |
Failed - Adjourned |
Relates to digital asset mining; relates to exemption; relates to commercial mining of digital assets definitions. |
|
|
Oklahoma |
Blockchain Technology and Digital Currencies |
Failed - Adjourned |
Relates to blockchain technology and digital currencies; creates a task force to study and make recommendations for policy on blockchain and digital currency technologies in this state; provides expiration date; provides for membership; provides for designation of co-chairs; requires appointments by certain date; requires organization meeting by certain date; specifies quorum; provides for frequency of meetings; subjects meetings to the Oklahoma Open Meeting Act. |
|
|
Oklahoma |
Digital Currency of State Act |
Failed - Adjourned |
Relates to digital currency; creates the Digital Currency of State Act; provides short title; requires the Office of the State Treasurer to establish a digital currency backed by gold; allows the Treasurer to enter certain contracts; authorizes the treasurer to establish a method to administer digital currency; provides for promulgation of rules; allows for the purchase, issuance and redemption of digital currency and gold for individuals from the treasurer. |
|
|
Oklahoma |
State Public Employees Retirement System |
Failed - Adjourned |
Relates to state Public Employees Retirement System; requires report to be submitted for certain date; provides for contents of the report; defines term; provides for codification; provides an effective date. |
|
|
Oklahoma |
Blockchain Basics Act |
Failed - Adjourned |
Relates to blockchain technology; creates the Blockchain Basics Act; provides short title; defines terms; allows individuals to engage in certain digital asset mining business under certain circumstances; permits industrial digital asset mining under certain circumstances; prohibits political subdivisions from implementing certain requirements to limit digital asset mining business; provides for exceptions; prohibits the state from implementing certain requirements to limit digital asset mining business. |
|
|
Oklahoma |
State Government |
Failed - Adjourned |
Relates to state government; prohibits the enaction of licensure for engaging in digital financial asset business activity; defines term; provides for codification; provides an effective date. |
|
|
Oklahoma |
Implementation of Blockchain Technology |
Failed - Adjourned |
Relates to the implementation of blockchain technology; directs the planning of a new financial institution to be a state-chartered institution; names the Banking Department and state Department of Commerce to coordinate requirements for certain institution; requires use of blockchain technology; sets standards for certain institution; provides for integration into banking and financial regulations; provides exception for certain regulations; states purpose of new institution for blockchain innovators. |
|
|
Oklahoma |
State Banking Code |
Failed - Adjourned |
Relates to state Banking Code; relates to definitions; defines terms; updates statutory language; updates statutory references; makes language gender neutral; provides an effective date. |
|
|
Oklahoma |
State Government |
Failed - Adjourned |
Relates to state government; creates the Citizen's Bill of Rights; provides short title; defines terms; restricts certain entities from taking certain actions relating to currency; guarantees certain rights for the use of gold and silver; restricts certain entities from taking certain actions relating to digital identification; prohibits certain entities from implementing a social credit score; prohibits certain entities from taking certain actions relating to medical procedures. |
|
|
Oregon |
None |
|||
|
Pennsylvania |
Task Force on Digital Currency |
Pending |
Establishes a task force on digital currency and the impact on widespread use of cryptocurrency and other forms of digital currencies in this commonwealth. |
|
|
Pennsylvania |
Digital Assets and Blockchain Technology Registration |
Pending |
Amends the act known as the Pennsylvania Securities Act; provides for digital assets and blockchain technology registration; imposes penalties. |
|
|
Pennsylvania |
Sales and Use Tax Exemption |
Pending |
Amends the act known as the Tax Reform Code, in Computer Data Center Equipment Incentive Program; provides for definitions and for sales and use tax exemption. |
|
|
Pennsylvania |
Blockchain Technology Business Advertisements |
Pending |
Amends the act known as the state Securities Act; provides for digital assets and blockchain technology business advertisements; imposes penalties. |
|
|
Pennsylvania |
Cryptocurrency Energy Conservation Act |
Pending |
Provides that the General Assembly finds and declares that climate change is the most serious long-term threat to this planet, that the world needs to reach carbon neutrality by mid-century to avoid the worst effects of climate change, and that the commonwealth is a major emitter of greenhouse gases that contribute to climate change, the majority of which, approximately a specified percent, are related to the transportation and industrial sectors. |
|
|
Pennsylvania |
Collateral Requirements for Virtual Currency Lenders |
Pending |
Provides for collateral requirements for virtual currency lenders and for segregation of funds; imposes penalties. |
|
|
Pennsylvania |
Alternative Energy Portfolio Standards Act |
Pending |
Amends the act known as the Alternative Energy Portfolio Standards Act; provides for definitions; provides for force majeure; provides for alternative energy portfolio standards, for portfolio requirements in other states, for health and safety standards and for interagency responsibilities; provides for zero emission credits; makes editorial changes. |
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Pennsylvania |
Restriction on Use and Custody of Digital Assets |
Pending |
Provides for restriction on use and custody of digital assets prohibited and for use of nodes authorized. |
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Pennsylvania |
Cryptocurrency |
Pending |
Urges the Congress of the United States to establish a regulatory framework for cryptocurrency at the Federal level. |
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Pennsylvania |
Ethics Standards and Financial Disclosure |
Pending |
Amends Title 65 Public Officers of the Pennsylvania Consolidated Statutes, in ethics standards and financial disclosure; provides for definitions, for restricted activities and for penalties. |
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Pennsylvania |
Commercial Code |
Pending |
Amends specified title of Commercial Code of the Pennsylvania Consolidated Statutes, in general definitions and principles of interpretation; provides for general definitions. |
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Pennsylvania |
Uniform Commercial Code |
Enacted |
Amends the Commercial Code; relates to decedents, estates and fiduciaries; revises the UCC to accommodate emerging technologies utilized in commercial transactions; provides that in a hybrid transaction, if the sale-of-goods aspects do not predominate, only provisions which relate primarily to the sale-of-goods aspects of the transaction apply, and the provisions that relate primarily to the transaction as a whole do not apply. |
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Pennsylvania |
Alternative Energy |
Pending |
Amends the Alternative Energy Portfolio Standards Act; provides for definitions; provides for force majeure; provides for alternative energy portfolio standards, for portfolio requirements in other states, for health and safety standards and for interagency responsibilities; provides for zero emission credits. |
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Puerto Rico |
Oversight of the Financing of Political Campaigns |
Pending |
Relates to the Law for the Oversight of the Financing of Political Campaigns, to define what is a digital asset or cryptocurrency; authorizes candidates and committees to accept any digital asset or cryptocurrency as a contribution under Law 222-2011; provides that an increase in the value of the donated digital asset or cryptocurrency held by a candidate or committee must be reported as interest. |
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Rhode Island |
Uniform Commercial Code |
Enacted |
Provides for amendments to the UCC for emerging technologies; provides for interests that take priority over or take free of security interest or agricultural lien; provides that a buyer, other than a secured party, of chattel paper takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and, among other things, receives delivery of each authoritative tangible copy of the record evidencing the chattel paper. |
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Rhode Island |
Currency Transmissions of Virtual Currency Kiosks |
Pending |
Establishes guidelines for the operation of virtual currency (crypto) kiosks. |
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Rhode Island |
Financial Institutions Powers and Operations |
Enacted |
Amends outdated provisions of the banking statutes and the Home Loan Protection Act; adds consumer protections, including minimum capital requirements and limits on investments for currency transmitters including crypto currency; adds a consumer protection for student loan borrowers and remove the provision allowing deposit of securities in lieu of bond. |
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Rhode Island |
Rhode Island Economic Growth Blockchain Act |
Pending |
Establishes the Economic Growth Blockchain Act to regulate virtual and digital assets; establishes depository banks for these purposes. |
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Rhode Island |
Prohibition of Production of Private Keys |
Pending |
Prohibits the compelled production of a private key as it relates to a digital asset, digital identity or other interest or right; provides that no person shall be compelled to produce a private key or make a private key known to any other person in any civil, criminal, administrative, legislative or other proceeding in this state that relates to a digital asset, digital identity or other interest or right to which the private key provides access unless a public key is unavailable. |
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Rhode Island |
A Study on Blockchain and Cryptocurrency |
Pending |
Creates a special legislative study commission whose purpose it would be to recommended legislative proposals to encourage a positive economic environment for blockchain and cryptocurrency in this state, and who would submit an interim progress report and recommendations to the secretary of commerce, the general treasurer and the General Assembly no later than Jan. 5, 2025, and a final report by Jan. 5, 2026, and whose life would expire on Feb. 5, 2026. |
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Rhode Island |
Blockchain and Cryptocurrency Study |
Pending |
(Joint Resolution) Creates a five member special legislative study commission whose purpose it would be to recommended legislative proposals to encourage a positive economic environment for blockchain and cryptocurrency in this state, and who would submit an interim progress report and recommendations to the secretary of commerce, the general treasurer and the General Assembly no later than Jan. 5, 2025, and a final report by Jan. 5, 2026, and whose life would expire on Feb. 5, 2026. |
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Rhode Island |
Guidelines for the Operation of Virtual Currency Kiosks |
Pending |
Establishes guidelines for the operation of virtual currency (crypto) kiosks. |
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Rhode Island |
Prohibition of Production of Private Keys |
Pending |
Prohibits the compelled production of a private key as it relates to a digital asset, digital identity or other interest or right. |
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Rhode Island |
Uniform Commercial Code or Emerging Technologies |
Enacted |
Provides for amendments to the UCC for emerging technologies; provides for interests that take priority over or take free of security interest or agricultural lien; provides that a buyer, other than a secured party, of chattel paper takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and, among other things, receives delivery of each authoritative tangible copy of the record evidencing the chattel paper. |
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Rhode Island |
Banking Statutes and the Home Loan Protection Act |
Enacted |
Amends outdated provisions of the banking statutes and the home loan protection act, adds consumer protections, including minimum capital requirements and limits on investments for currency transmitters including crypto currency, adds a consumer protection for student loan borrowers and remove the provision allowing deposit of securities in lieu of bond. |
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South Carolina |
Definition of Money |
Failed - Adjourned |
Relates to the definition of money; provides that money does not include a central bank digital currency. |
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South Carolina |
Cryptocurrency |
Failed - Adjourned |
Provides definitions related to cryptocurrency; permits an individual to use digital assets and to prohibit additional taxation of digital assets; permits an individual to participate in home digital asset mining; provides that an individual engaged in home digital asset mining or a digital asset mining business shall not be required to obtain a money transmitter license; permits the use of nodes for the purpose of connecting to a blockchain protocol and transferring digital assets. |
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South Dakota |
Acceptance of Central Bank Digital Currency |
Enacted |
Provides that neither the state nor any of its agencies or subdivisions may accept a central bank digital currency, whether foreign or domestic, as payment for taxes, fees, tuition, admission, the settlement of any account or debt, or any other purpose; provides that a person engaging in the purchase or sale of any goods or services or trading in financial products or services and who accepts central bank digital currency must also accept another form of legal tender. |
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South Dakota |
Uniform Commercial Code |
Enacted |
Amends provisions of the UCC; provides that the chapter of the code governing leases applies to any transaction, regardless of form, that creates a lease; provides that in a hybrid lease, if the lease-of-goods aspects do not predominate, only the specified provisions which relate primarily to the lease-of-goods aspects of the transaction apply, and the provisions that relate primarily to the transaction as a whole do not apply. |
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South Dakota |
Provisions Regarding Money Transmission |
Enacted |
Revises provisions regarding money transmission; provides that a person may not engage in the business of money transmission or advertise, solicit, or hold itself out as providing money transmission unless the person is licensed; provides for exceptions; provides that to establish consistent licensing between this state and other states, the director of the Division of Banking is authorized and encouraged to, among other things, implement licensing provisions in a manner consistent with other states. |
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South Dakota |
Central Bank Digital Currency |
Adopted |
Opposes the adoption and development of a central bank digital currency. |
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Tennessee |
Uniform Commercial Code |
Failed - Adjourned |
Incorporates into the UCC the amendments adopted by the Uniform Law Commission in 2022. |
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Tennessee |
Uniform Commercial Code |
Failed - Adjourned |
Relates to UCC; excludes U.S. central bank digital currency and accounts evidenced by a certificate of deposit from the definition of a deposit account for purposes of secured transactions under the UCC. |
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Tennessee |
Uniform Commercial Code |
Failed - Adjourned |
Defines the term central bank digital currency and excludes the term from the definition of money for purposes of the UCC. |
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Tennessee |
Computers and Electronic Processing |
Failed - Adjourned |
Establishes the Blockchain Basics Act. |
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Tennessee |
Uniform Commercial Code |
Enacted |
Relates to commercial instruments and secured transactions; defines deposit account as a demand, time, savings, passbook, or similar account maintained with a bank and does not include investment property, accounts evidenced by an instrument, or a U.S. central bank digital currency. |
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Tennessee |
Uniform Commercial Code |
Failed - Adjourned |
Defines the term central bank digital currency and excludes the term from the definition of money for purposes of the UCC. |
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Tennessee |
Uniform Commercial Code |
Failed - Adjourned |
Excludes U.S. central bank digital currency and accounts evidenced by a certificate of deposit from the definition of a deposit account for purposes of secured transactions under the UCC. |
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Tennessee |
Digital Currency |
Enacted |
Concerns digital currency, digital medium of exchange, or digital monetary unit of account issued by the federal reserve or another federal agency, a foreign government, a foreign central bank, a foreign reserve system, the Bank for International Settlement, the International Monetary Fund, the World Bank, or another international or intergovernmental body. |
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Tennessee |
Computers and Electronic Processing |
Failed - Adjourned |
Establishes the Blockchain Basics Act. |
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Texas |
No 2024 regular session |
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Utah |
Prohibition of Production of Private Keys |
Enacted |
Provides protection for private personal digital data; provides protection to a person from being compelled to produce the persons private electronic key that provides access to the persons digital assets, identity, or other interest. |
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Utah |
Blockchain and Digital Innovation Task Force Sunset |
Failed |
Extends the repeal date for the Blockchain and Digital Innovation Task Force. |
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Utah |
Digital Currency Modifications |
Enacted |
Makes modifications to the UCC; excludes certain digital currencies from the definition of money. |
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Utah |
Decentralized Autonomous Organization Act Amendments |
Enacted |
Makes changes to the Decentralized Autonomous Organization Act; clarifies that the Division of Corporations and Commercial Code files a decentralized autonomous organization's certificate of organization and does not issue a certificate of organization; makes modifications to the permitted names of a decentralized autonomous organization to align with permitted names for other entities formed in the state. |
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Utah |
Specie Legal Tender Amendments |
Enacted |
Modifies provisions related to precious metals; exempts a portion of funds in certain budget reserve accounts from the state Money Management Act; authorizes the state treasurer to invest a portion of the funds in certain budget reserve accounts in precious metals; requires the state treasurer to conduct a study related to precious metals. |
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Vermont |
Captive Insurance |
Enacted |
Relates to banking, insurance and securities. |
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Vermont |
2024 Budget Adjustments |
Enacted |
Provides for budget adjustments for the specified fiscal year; provides for various appropriations, including, among others, a specified amount to be used as Federal Emergency Management Agency matching funds for costs incurred due to the July 2023 flooding event; relates to allocations from the property transfer tax; provides that cannabis sales tax revenue shall be transferred to the Universal Afterschool and Summer Special Fund. |
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Vermont |
State Ethics Commission |
Enacted |
Relates to the state ethics commission and the state code of ethics. |
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Virginia |
Uniform Commercial Code |
Enacted |
Relates to UCC; relates to amendments; makes a number of amendments to the UCC as adopted in specified state; amends the definitions of money and conspicuous for purposes of the UCC and makes extensive amendments throughout provisions related to UCC Article 9; provides that such amendments include updating the traditional rules for attachment and perfection to apply to digital assets, such as controllable electronic records. |
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Virginia |
Digital Tokens |
Failed |
Relates to Securities Act; relates to digital tokens; relates to exemption; provides that an issuer or seller of a digital token, as defined in the bill, shall be exempt from the registration requirements of the Securities Act if the digital token cannot be considered an investment contract, as defined in the bill; provides that the primary purpose of the token is consumptive, as defined in the bill. |
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Virginia |
Digital Asset Mining |
Enacted |
Directs the Joint Commission on Technology and Science to analyze the use of blockchain technology, digital asset mining and cryptocurrency in the Commonwealth. |
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Virginia |
Blockchain and Cryptocurrency Commission |
Enacted |
Directs the Joint Commission on Technology and Science to examine the use of blockchain and cryptocurrency in the Commonwealth and the creation of a Blockchain and Cryptocurrency Commission. |
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Washington |
None |
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West Virginia |
Generally to Money Laundering |
Failed - Adjourned |
Relates to money laundering; clarifies the offense of money laundering. |
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West Virginia |
Gold and Silver as Legal Tender |
Failed - Adjourned |
Relates generally to the use of gold and silver as legal tender in the state. |
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West Virginia |
State Legal Tender Act |
Failed - Adjourned |
Relates to the state Legal Tender Act. |
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West Virginia |
Gold and Silver Bullion and Specie |
Failed - Adjourned |
Recognizes gold and silver bullion and specie as legal tender in state. |
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Wisconsin |
Central Bank Digital Currency |
Failed |
Concerns central bank digital currency. |
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Wyoming |
Decentralized Unincorporated Nonprofit Associations |
Enacted |
Relates to corporations, partnerships and associations; provides for the formation and management of decentralized unincorporated nonprofit associations; provides definitions; provides for an effective date. |
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Wyoming |
Stable Token Act Amendments |
Enacted |
Amends the state Stable Token Act to allow for investments in cash and government securities; authorizes the state Stable Token Commission to issue different types and amounts of stable tokens and to contract with financial service providers; requires reporting only for fully reserved stable tokens; provides for a competitive bidding and procurement process; makes conforming amendments to criminal history records statutes. |
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Wyoming |
Bank Assets in Bankruptcy Clarification |
Enacted |
Specifies when certain accounts shall not be deemed assets or liabilities of financial institutions for purposes of receivership, conservatorship or bankruptcy; amends requirements for banks providing custodial or fiduciary services for digital assets; provides that a bank may provide such services for digital assets upon written notice to the banking commissioner; provides that a bank may provide custodial services for stablecoin reserves under certain conditions; provides for supervised trust companies. |
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