North Carolina Adopts Business-Friendly Regulation on Blockchain

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North Carolina Adopts Business-Friendly Regulation on Blockchain

Postby » Wed Jul 06, 2016 9:00 am

North Carolina Governor Pat McCrory has ratified a new blockchain-friendly law, marking a significant step forward for the regulation of cryptocurrencies in the U.S. Known as the North Carolina Money Transmitter Act, it follows work on previous state bills and about sixteen months of deliberations between the North Carolina Commissioner of Banks, the General Assembly and the Chamber of Digital Commerce.

The Act updates the American state’s existing laws to include a defined “virtual currency” term, and includes clarification as to which activity using virtual currency triggers the Act. This is said to ensure that miners and blockchain software providers including smart contracts platforms, ... (read more)

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