Bill to Give Blockchain Records Legal Clout Reintroduced in US House

Eris Industries, which develops software that allows anyone to build secure, low-cost data infrastructure using blockchain and smart contract technology, has ordered all its staff to depart the United Kingdom due to what it calls “completely unnecessary” surveillance powers on data included in the government’s reintroduced Investigatory Powers Bill. The reintroduced bill, which was blocked previously by the Conservative government’s Liberal Democrat coalition partners, will require internet companies to give security agencies access to encrypted conversations of suspected terrorists and....

The bill would give legal recognition to transfers and registrations made through blockchain smart contracts. On March 29, the Iowa House of Representatives passed a bill that seeks to legally recognize transactions and registrations made via blockchain smart contracts. The bill — SF541 — gained Senate approval earlier in the month. Under the auspices of the new bill, smart contracts would be given the same legal status as regular contracts, while distributed-ledger technology would be viewed as a reliable electronic store of record. Regarding smart contracts, the bill states:“The bill....

A legislative effort in the state of Vermont to recognize blockchain data in the court system is inching closer to completion, and only needs a governor’s signature to become enshrined in law. Buried inside an economic development bill recently passed by both the Vermont House and Senate is legislative language that, if approved, would make it so that "a fact or record" verified through blockchain technology is "authentic". Put more simply, a document notarized using a network like the bitcoin blockchain will have more legal bearing in court. This use case has emerged....

Congressman and Blockchain Caucus Co-Chair David Schweikert has advanced a bill to make good on the crypto adage, "code is law." Republican Congressman David Schweikert (R-AZ) has referred a new bill to the House Committee on Energy and Commerce that, if passed, would recognize digital signatures on the blockchain as enforceable by law.This is particularly important for the enforceability of smart contracts, which automate transactions or other contractual obligations according to binding, pre-specified rules. Smart contract advocates have long used the adage "code is law," and the new....

Utah’s House of Representatives on February 6 passed House Bill 230 (HB 230), informally referred to as the “Strategic Bitcoin Reserve” bill, by a narrow margin of 38 votes in favor, 34 against, and 3 not voting. HB 230 will now advance to the Senate, where its fate hinges on another vote before ultimately reaching […]