{"id":2223,"date":"2017-03-29T22:02:14","date_gmt":"2017-03-29T22:02:14","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=2223"},"modified":"2021-07-17T04:21:23","modified_gmt":"2021-07-17T02:21:23","slug":"arizona-blockchain-regulation","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/03\/arizona-blockchain-regulation.html","title":{"rendered":"Blockchain regulation: Arizona recognizes it under state law"},"content":{"rendered":"

Another move has been made in Arizona in order to make Blockchain regulation<\/strong> more effective.<\/p>\n

In fact, a legislature has creared a bill that would recognize the distributed ledger signature and smart contracts under state law.<\/strong><\/p>\n

At the moment the bill has been sent to the governor’s desk for a final approval.<\/p>\n

As previously reported, this bill would make data tied to a blockchain “considered to be in an electronic format and to be an electronic record”<\/em>\u00a0in the US State of Arizona.<\/p>\n

Also, the bill quotes specifically the Ethereum smart contracts, so there is a specific effort with the main goal of capturing new kinds of delivering information – the distributed ledger\u2013 under existing laws.<\/p>\n

The bill explains:<\/p>\n

“‘Smart contract’ means an event-driven program, with state, that runs on a distributed, decentralized, shared and replicated ledger and that can take custody over and instruct transfer of assets on that ledger.”<\/em><\/p><\/blockquote>\n

This bill was sent to sent to Governator Doug Ducey’s office on March 27th, \u00a0after clearing the Senate by a 28-1 vote on the 23rd.<\/p>\n

Even if it’s not so clear if or when the governor will sign the bill, its support suggests that this measure will see the light soon.<\/p>\n

A few members of the legislature’s lower chamber, in fact, approved this bill unanimously previously this year.<\/p>\n

This Arizona bill is similar to a legislation passed and signed in Vermont last year. There, lawmakers proposed to allow data embedded on a blockchain to be used in a court of law.<\/p>\n

Click here to read more<\/a> about Blockchain regulation worldwide.<\/p>\n

 <\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Another move has been made in Arizona in order to make Blockchain regulation more effective. In fact, a legislature has creared a bill that would recognize the distributed ledger signature and smart contracts under state law. At the moment the bill has been sent to the governor’s desk for a final approval. As previously reported, […]<\/p>\n","protected":false},"author":2,"featured_media":2225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76,101,468,542],"tags":[1387,1383,1384,1248],"yoast_head":"\nBlockchain regulation: Arizona recognizes it under state law -<\/title>\n<meta name=\"description\" content=\"A new bill for Blockchain Regulation in Arizona has been approved in order to recognize smart contracts and signature under state law.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2017\/03\/arizona-blockchain-regulation.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain regulation: Arizona recognizes it under state law\" \/>\n<meta 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