• Latest
US State Moves to Exempt Some Blockchain Tokens from Securities Rules

US State Moves to Exempt Some Blockchain Tokens from Securities Rules

March 1, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

US State Moves to Exempt Some Blockchain Tokens from Securities Rules

coinnewsdaily by coinnewsdaily
March 1, 2019
in Business
0
US State Moves to Exempt Some Blockchain Tokens from Securities Rules
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

Lawmakers in the U.S. state of Rhode Island are seeking to exempt blockchain tokens from securities laws for some use cases.

Five Democratic and Republican senators jointly filed house bill 5595 on Wednesday, proposing that the Rhode Island Uniform Securities Act should be amended to state that developers or sellers of “open blockchain tokens” are not deemed as issuers of securities and are exempt from the act.

The exemption, however, should be provided under certain conditions, the lawmakers said. First, the purpose of a token should be for a “consumptive purpose” and “only be exchangeable for, or provided for the receipt of, goods, services or content, including rights of access to goods, services or content.”

Secondly, developers or sellers of a token should not sell it to the initial buyer as a financial investment, they said, adding:

“If the token does not have a consumptive purpose available at the time of sale, the initial buyer of the token is prevented from reselling the token until the token is available for use for a consumptive purpose.”

Further, the proposed legislation says that individuals who facilitate the exchange of open blockchain tokens should not be treated as brokers-dealers or those who deal in securities, provided they “electronically file a notice of intent with the secretary of state” in advance.

The bill defines open blockchain token as a digital unit which is created, recorded in a digital ledger, and is “capable of being traded or transferred between persons without an intermediary or custodian of value.”

Over in Colorado, a similar bill was passed by state senators on Wednesday and is now awaiting a signature from the state governor before it becomes law.

Senate bill 23 – dubbed the “Colorado Digital Token Act” – was filed last month, proposing that digital tokens with a “primarily consumptive” purpose should be exempted from securities laws provided they are not marketed for “speculative or investment” purposes.

Rhode Island Capitol image via Shutterstock 

Credit: Source link

Tags: BusinessCryptoCrypto Business
Share76Tweet48
Previous Post

Mark Karpeles Fails to Halt US Court Case Over Mt Gox Losses

Next Post

Thai SEC – XRP Gets Green Signal with Top Coins as Eligible Currency

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
Thai SEC – XRP Gets Green Signal with Top Coins as Eligible Currency

Thai SEC - XRP Gets Green Signal with Top Coins as Eligible Currency

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,128.001.49%
  • ethereumEthereum(ETH)$1,583.151.08%
  • tetherTether(USDT)$1.00-0.19%
  • binancecoinBNB(BNB)$312.341.80%
  • rippleXRP(XRP)$0.4076243.18%
  • cardanoCardano(ADA)$0.3907725.08%
  • dogecoinDogecoin(DOGE)$0.0956468.66%
  • matic-networkPolygon(MATIC)$1.112.05%
  • okbOKB(OKB)$37.701.29%
  • solanaSolana(SOL)$23.930.27%
  • polkadotPolkadot(DOT)$6.261.28%
  • shiba-inuShiba Inu(SHIB)$0.0000122.71%
  • litecoinLitecoin(LTC)$93.853.63%
  • tronTRON(TRX)$0.062168-0.25%
  • daiDai(DAI)$1.00-0.14%
  • cosmosCosmos Hub(ATOM)$13.342.25%
  • chainlinkChainlink(LINK)$6.930.43%
  • leo-tokenLEO Token(LEO)$3.54-0.02%
  • moneroMonero(XMR)$177.500.76%
  • ethereum-classicEthereum Classic(ETC)$21.651.51%
  • bitcoin-cashBitcoin Cash(BCH)$133.132.38%
  • stellarStellar(XLM)$0.0907390.85%
  • crypto-com-chainCronos(CRO)$0.0791261.93%
  • filecoinFilecoin(FIL)$5.262.76%
  • algorandAlgorand(ALGO)$0.2424321.29%
  • vechainVeChain(VET)$0.0231620.67%
  • internet-computerInternet Computer(ICP)$5.882.15%
  • aaveAave(AAVE)$82.822.39%
  • eosEOS(EOS)$1.061.58%
  • elrond-erd-2MultiversX(EGLD)$42.982.43%
  • theta-tokenTheta Network(THETA)$1.020.87%
  • tezosTezos(XTZ)$1.070.91%
  • paxos-standardPax Dollar(USDP)$1.00-0.53%
  • huobi-tokenHuobi(HT)$5.131.12%
  • bitcoin-cash-svBitcoin SV(BSV)$42.690.84%
  • havvenSynthetix Network(SNX)$2.311.67%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.031.60%
  • dashDash(DASH)$59.820.83%
  • iotaIOTA(MIOTA)$0.2274941.93%
  • makerMaker(MKR)$651.732.85%
  • zcashZcash(ZEC)$45.271.63%
  • neoNEO(NEO)$8.171.54%
  • zilliqaZilliqa(ZIL)$0.0271151.73%
  • basic-attention-tokenBasic Attention(BAT)$0.2532773.17%
  • compound-governance-tokenCompound(COMP)$52.081.11%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.0369700.90%
  • kusamaKusama(KSM)$35.283.58%
  • bitcoin-goldBitcoin Gold(BTG)$16.771.45%
  • qtumQtum(QTUM)$2.68-2.88%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • wavesWaves(WAVES)$2.481.05%
  • sushiSushi(SUSHI)$1.261.88%
  • yearn-financeyearn.finance(YFI)$7,249.551.17%
  • golemGolem(GLM)$0.2329050.13%
  • omisegoOMG Network(OMG)$1.401.76%
  • ontologyOntology(ONT)$0.206492-0.47%
  • digibyteDigiByte(DGB)$0.0104371.32%
  • umaUMA(UMA)$2.043.47%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%