Nevada Votes to Recognize Blockchain Tax Ban Bill

[mynhpark]

Senators in the state of Nevada have fully supported a blockchain bill that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. In detail, this bill prohibits a local government from: (1) imposing a tax or fee on the use of a blockchain; (2) requiring a certificate, license or permit to use a blockchain; and (3) imposing any other requirement relating to the use of a blockchain. Nevada is not the only state that is pushing the blockchain agenda, which could essentially pave the way for smart contracts too in the state. Last month, the Senate of the state of Arizona passed a blockchain bill that would give smart contracts and blockchain signatures legal binding status.

Do you agree this support innovation?

[milewilda]

Senators in the state of Nevada have fully supported a blockchain bill that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. In detail, this bill prohibits a local government from: (1) imposing a tax or fee on the use of a blockchain; (2) requiring a certificate, license or permit to use a blockchain; and (3) imposing any other requirement relating to the use of a blockchain. Nevada is not the only state that is pushing the blockchain agenda, which could essentially pave the way for smart contracts too in the state. Last month, the Senate of the state of Arizona passed a blockchain bill that would give smart contracts and blockchain signatures legal binding status.

Do you agree this support innovation?

This is a good news for me on which a certain state to recognize already the use of blockchain technology and also the implementation or rules on prohibits on some thins like tax. If thats the case then it would be a good move and blockchain will surely spread out when other states that this technology helps a lot in terms of online transactions.It would be a huge step up if this would be implemented on most countries,

[aso118]

Senators in the state of Nevada have fully supported a blockchain bill that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. In detail, this bill prohibits a local government from: (1) imposing a tax or fee on the use of a blockchain; (2) requiring a certificate, license or permit to use a blockchain; and (3) imposing any other requirement relating to the use of a blockchain. Nevada is not the only state that is pushing the blockchain agenda, which could essentially pave the way for smart contracts too in the state. Last month, the Senate of the state of Arizona passed a blockchain bill that would give smart contracts and blockchain signatures legal binding status.

Do you agree this support innovation?

Do you have any source for this?
If there are regulatory uncertainties at the country level, then this kind of legislation preventing taxation at the local level won't help eliminate all problems. I would agree that it would draw blockchain investments from other states into Nevada.

[olushakes]

Senators in the state of Nevada have fully supported a blockchain bill that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. In detail, this bill prohibits a local government from: (1) imposing a tax or fee on the use of a blockchain; (2) requiring a certificate, license or permit to use a blockchain; and (3) imposing any other requirement relating to the use of a blockchain. Nevada is not the only state that is pushing the blockchain agenda, which could essentially pave the way for smart contracts too in the state. Last month, the Senate of the state of Arizona passed a blockchain bill that would give smart contracts and blockchain signatures legal binding status.

Do you agree this support innovation?

If this pulls through, then I see it as as a major achievement that I expect to spiral across in a gradual manner. At the same time, I wont want us to get our hopes high as this is still a bill and until when it becomes a law thats when the rejoicing can start happening but nevertheless its still a step in the right direction.

[gredisgold88]

Agrees, but when lawmakers also intervene in law using blockchain, bitcoin users with small capital upcoming will be in politic play , this will also affect to price in future. And such regulation is only beneficial for large investors and developers who play an important role in transactions.

[Juggy777]

This is really nice initiative but there is no link why so? What I really like is that, this will quell the fears that bitcoins can be taxed, and this could be used as a role model for other emerging nations to use the blockchain and Bitcoins. This will also help people to use Bitcoins fearlessly and will create a positive environment for all the parties. Let's see how this effects other countries and states, it will be interesting what happenes next.

[monsanto]

Senators in the state of Nevada have fully supported a blockchain bill that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. In detail, this bill prohibits a local government from: (1) imposing a tax or fee on the use of a blockchain; (2) requiring a certificate, license or permit to use a blockchain; and (3) imposing any other requirement relating to the use of a blockchain. Nevada is not the only state that is pushing the blockchain agenda, which could essentially pave the way for smart contracts too in the state. Last month, the Senate of the state of Arizona passed a blockchain bill that would give smart contracts and blockchain signatures legal binding status.

Do you agree this support innovation?

Casino lobby runs Las Vegas. Do they know yet of this bill? Will they like it? I doubt it once they realize while it could increase revenue slightly it could also threaten their gambling monopoly.

The bill now moves to the Assembly – the lower chamber of Nevada’s bicameral legislature – for further consideration.

We'll see what happens.

[ImHash]

So how does this relate to bitcoin? you know blockchain isn't a thing without being open sourced and run in decentralized network? what is the use of the blockchain? smart contracts as ETH's smart contracts? if you don't use a public blockchain no one will know that you are using a blockchain.
If this can help bitcoin then more we hear of such news from government's officials more legitimacy crypto in general can gain over time.

[Junko]

Senators in the state of Nevada have fully supported a blockchain bill that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. In detail, this bill prohibits a local government from: (1) imposing a tax or fee on the use of a blockchain; (2) requiring a certificate, license or permit to use a blockchain; and (3) imposing any other requirement relating to the use of a blockchain. Nevada is not the only state that is pushing the blockchain agenda, which could essentially pave the way for smart contracts too in the state. Last month, the Senate of the state of Arizona passed a blockchain bill that would give smart contracts and blockchain signatures legal binding status.

Do you agree this support innovation?

Casino lobby runs Las Vegas. Do they know yet of this bill? Will they like it? I doubt it once they realize while it could increase revenue slightly it could also threaten their gambling monopoly.

The bill now moves to the Assembly – the lower chamber of Nevada’s bicameral legislature – for further consideration.

We'll see what happens.

OR... the casinos can realize how blockchain technology is the future and that utilizing it themselves can benefit their casino/hotel operations and other interests and increase their own profitability as well.