The State of Washington is pushing ahead into the realm of blockchain know-how as the way forward for cryptocurrencies stays a subject of nationwide curiosity.
In a brand new press launch, the non-profit Washington Know-how Business Affiliation (WTIA) introduced its help of a brand new legislation that Governor Jay Inslee made official together with his signature on Wednesday.
The Washington State Blockchain Work Group invoice, which was handed by the state legislature and signed on March ninth, establishes a brand new work group tasked with exploring the potential makes use of of and insurance policies for blockchain know-how throughout a variety of industries and public sectors.
Republican State Senator Sharon Brown labored with WTIA to garner “robust bipartisan help” in help of the invoice.
Brown says,
“This new legislation is a crucial first step in creating an atmosphere that’s welcoming of recent enterprise prospects, keen to hunt out new functions, and keen to determine potential supply-chain administration and STEM-education alternatives.
We’re sending a transparent message that Washington is able to begin working with the non-public sector to advance this know-how for the good thing about all Washington residents, employers and employees.”
The work group can be comprised of representatives from 21 totally different sectors, together with authorities, privateness and cybersecurity specialists, varied commerce associations, environmental safety, and shopper advocacy.
The invoice states the work group will discover “functions in computing, banking and different monetary providers, the actual property transaction course of, well being care, provide chain administration, increased training, identification verification, and public record-keeping.”
The transfer by Washington is the most recent in a sequence of steps that states and different localities have taken to include blockchain know-how and cryptocurrencies into their charters.
In mid-February, Colorado grew to become the primary US state to simply accept crypto property for fee of taxes.
Texas additionally created a working group to supervise the nascent sector’s growth final September.
New York Metropolis’s Mayor Eric Adams introduced final November after his election that he supposed to obtain his first three paychecks in Bitcoin (BTC).
Again in early 2019, Wyoming grew to become the primary state within the nation to acknowledge property rights for cryptocurrency house owners.
The complete textual content of the brand new Washington legislation (S.B. 5544) will be learn right here.
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