Payments & FinTech Lawyer

In June 2017 two US states - Nevada and Vermont - passed laws concerning blockchain, with the legislation following a law enacted in Arizona in April this year on the same subject. The laws address, for example, contract enforcement in regard to blockchain transactions, something that is not standardised across the US. Kari Larsen and Kimberly Chow describe here the latest US state efforts alongside activity at a federal level on blockchain, and discuss the kind of regulation industry is looking for.
While the United States federal Government is making efforts to become more knowledgeable regarding blockchain technologies, individual US states are leading the way in enacting legislation or issuing guidance addressing new technologies and digital currencies. Blockchain is a distributed digital ledger technology (‘DLT’), the first of which was originally designed to serve as the platform for Bitcoin, but one that is now being analysed and experimented with for numerous other use cases.

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