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'Blockchain-Friendly’ Bill Moves Forward in North Carolina
Representatives of the blockchain industry spoke today at a North Carolina Senate Finance Committee meeting to advocate for a bill that they believe is among the more favorable seen so far at the state legislative level. At the center of discussion today was the state’s Money Transmitters Act, and changes to the legislative framework that would update the rules in accordance with guidance issued by the North Carolina Office of the Commissioner of Banks (NCCOB) last December. Sponsored by Senator Rick Gunn, Senate Bill 680 would update the definition of money transmission to include any....
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North Carolina is making a significant stride toward the integration of Bitcoin into its financial strategy. A recently introduced bill aims to enable the state treasurer to allocate a portion of public funds to digital assets, with a particular emphasis on BTC exchange-traded products (ETPs). North Carolina has become the 20th state in the United […]
A legislative bill that would cover bitcoin and digital currency related business activities has advanced in the North Carolina Senate. According to the The Associated Press, the Senate Commerce Committee gave its stamp of approval to SB 680, which was originally filed in March. The bill passed in the North Carolina House of Representatives by a wide majority of 117-1 in May. As noted by a spokesperson for the North Carolina's Commissioner of Banks at the time, the bill - which amends the state's Money Transmitters Act - covers any activity "involving a personal, family or household....
Recent North Carolina Bitcoin law is a step in the right direction, leaving room for improvement but may arrive with its own side-effects. On July 6 2016, the Governor of North Carolina, Pat McCrory, signed a long-debated Bitcoin bill into law. This bill expands the state’s Money Transmitters Act to cover activities related to Bitcoin and other Blockchain-based digital currencies. Cointelegraph asked experts about their take towards this development of how the bill could affect Bitcoin acceptance, its development and that of other cryptocurrencies. Good step forward for Bitcoin. Lisa....
The North Carolina Senate Commerce Committee has agreed to support a House Bill drafted by North Carolina's banking commissioner regarding money transmission. The bill, titled "AN ACT TO ENACT THE NORTH CAROLINA MONEY TRANSMITTERS ACT AS 3 REQUESTED BY THE OFFICE OF THE NORTH CAROLINA COMMISSIONER OF 4 BANKS," states that money transmission includes maintaining control of virtual currency on behalf of others, and that the "online-only money" [bitcoin] is converted to cash using digital currency exchanges and the holder keeps it stored online. The bill passed the House back in May and is in....
Following a majority vote of the North Carolina Senate, the General Assembly of the state has now approved the amendment of a statutory article – the North Carolina Money Transmitters Act. The move will see the term “virtual currency” added to the existing law. Bitcoin exchanges and other industry companies in North Carolina will now be mandated to obtain a money transmitter license following a vote by members of the North Carolina Senate. In May 2016, North Carolina state’s House of Representatives overwhelmingly voted in a 117-to-1 vote, seeking the update before the recent approval from....