Nevada Looks Very Optimistic for Blockchain/Cryptocurrency Approving Various Blockchain Bills

Nevada passed regulatory sandbox legislation aimed at continuing and expanding blockchain investment and entrepreneurism in the state. Governor Steve Sisolak signed the “blockchain bills” on June 7 and 13.

In February of this year Nevada legislators introduced a suite of bills designed to promote blockchain adoption.

  • SB161 –  Creates a regulatory sandbox for emerging technologies companies through a program in the Department of Business and Industry.
  • SB162 – Creates a definition for “public blockchain” within Nevada Revised Statutes and requires government agencies to accept electronically certified documents, including those on a blockchain.
  • SB163 – Authorizes businesses to store and maintain corporate records on a blockchain.
  • SB164 – Defines virtual currencies as intangible personal property and therefore exempts them from personal property taxation.

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