Published: 31.03.2022
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2 minutes.
The Governor of the US state of Washington, Jay Inslee, signed a law aimed at expanding the adoption of blockchain in the financial and industrial sectors.
The authorities of the US state of Washington approved a law according to which a special working group will be formed in the region, which will study different ways of implementing blockchain in the business industry of the state. It will include seven government officials and eight leaders of various trade associations across the state. The group will have to study the practical application of the blockchain and submit its report to Governor Jay Inslee by December 1, 2023.
Senator Sharon Brown, who proposed the bill, said Washington will seek to use the technology for the benefit of the state’s residents and workers. The law is vital to creating an environment that welcomes new business opportunities, she said.
The new bill was first proposed in the Senate in 2019, but was vetoed by the Governor in April 2020. State legislators had to spend nearly two years refining it. Now Washington is on a par with states such as Texas, Wyoming and New York in introducing cryptocurrencies and blockchain into the region’s economy.
In 2020, the D.C. Bar Association approved the adoption of digital currencies for legal services in Washington State. The IRS has agreed that paying in cryptocurrencies is more like paying in goods than paying in fiat currency.
Recall that earlier the New Jersey Securities Bureau banned the cryptocurrency broker Voyager Digital from offering unregistered securities in the form of interest-bearing investment accounts in the state.
Source: Bits
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