Florida Passes First State-Level Stablecoin Bill — Crypto CLARITY Act Next?
In a positive development for the crypto industry, the Florida State Senate has passed a bill to create a regulatory framework for stablecoins at the state level. This move comes amid the struggles to enact a broader crypto market structure bill in the United States. Florida Creates Stablecoin Framework With New Bill In a Friday, […]
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Florida Representative Webster Barnaby has filed House Bill 183, a reopened attempt to let state officials put public money into digital assets, including Bitcoin and crypto exchange-traded products. Related Reading: Crypto Gets An Address: New York City Unveils US’ 1st Official Crypto Office According to the Florida Senate bill text, the proposal would let the […]
A bill aimed at getting the state of Utah to accept bitcoin for states services passes its first reading in the Senate. The bill has now passed its first Senate reading having already passed through the House of Representatives with a slim majority of 38 Yes votes against 36 No's. Utah state representative Marc K. Roberts introduced the proposal, Bill H.C.R 6, to the Clerk of the House of Representatives on February 10. “THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah, and the Governor concurring therein, recognizes the potential benefits that could come from the....
A Florida state senator is drafting legislation that could see bitcoin recognized as money in the US state. Senator Dorothy Hukill says that while in the early stages, the draft legislation will seek to balance protections for consumers and startups. The effort carries additional weight given that a Florida judge tossed out charges in a criminal case earlier this year on the grounds that bitcoin doesn't fit the state's definition of money transmission. Hukill, a Republican who represents Florida's eighth district and serves as chair of the Finance & Tax Committee, suggested that the....
The anticipated crypto market structure bill, or namely the CLARITY Act, designed to provide essential regulatory clarity for digital assets in the United States, is approaching critical dates in the Senate. However, it faces significant complexities related to stablecoin yield, conflicts of interest, and decentralized finance (DeFi). Senate Divided On Crypto Market Structure Bill Legal […]
The bill proposes to recognize cryptocurrency as property for purposes of taxation.