Curvement and Blockchain technology bills are performed for this week in Alabama

Montgomery, Alaa – many bills related to cryptocurrencies and technology can be voted this week in the Legislative Council in Alabama, which represents the first real test of legislators to organize emerging technologies.

The first of these bills to be heard this week is Senate Bill 282Will Barfoot, R-PIKE ROAD, regarding encrypted currencies. It is scheduled to be heard on Wednesday in the General Finance and Tax Funds Committee, the draft law exempts the virtual currency from State property taxAnd identify the virtual currency as “an account unit, a valuable store, or a method of exchange.”

Parfut legislation is a accompanying draft law Home Law Bill 483Under the auspices of Representative Mike Show, R-Hoover, who First floating The idea of ​​introducing legislation to regulate cryptocurrencies such as Bitcoin and Ethereum last year.

Wadi Preston, leader Alabama Blockchain allianceIt was called “super smart legislation”.

“This is a good example of making clear rules that I think we want in the Blockchain space,” Preston told Alabama Daily News on Monday. “The digital assets are very diverse.”

Preston went on to explain how digital currencies could extend as determined by the invoice to digital assets, and things like digital medical records, which he hoped to be unified as digital assets on Blockchain, and a digital and safe year is added to record and achieve transactions, which is the basis on which encrypted currencies are located.

Shaw’s HB483 is just one of three bills related to cryptocurrency technology and Blockchain technology that he presented this year, with the presence of others Home Law 482Which would allow the treasury secretary to the state to invest state funds in digital assets such as the encrypted currency, and Home Law 484Which would impose the expenses of the country that exceeds $ 1,000 are published on the public Blockchain.

All three -year bills were to be heard last week in the ways and means of the House of Representatives, the Public Funds Committee, but it was continuing to request Shaw, who told ADN on Monday that he wanted more time to prepare himself for questions on the bills by the committee. Shaw said he hoped that the three will be obtained to vote on this week’s committee on Wednesday.

As an advocate against excessive organization of Blockchain technology, Preston said on HB482, his place was not to defend a draft law that might dictate or oppose it might dictate how to allocate public funds. However, he said that the introduction of a bill explaining to what extent has reached the Blockchain technology in just a few years.

He said: “I think it is interesting and a very promising sign of times that this is the place where the Blockchain sector has reached where we have bills such as this coming at the national level and the state.”

The digital professor’s book has been used since the early 1980s, however, it appeared only in the past decade of the duties of the most advanced and decentralized digital general professor using Blockchain technology. A number of states have already used Blockchain technology to save records, such as California, which last year Drivation of its nicknames of 42 million cars Using technology.

On HB484, Preston was more explicit in supporting the proposal, describing it as an opportunity for “Alabama to really get out and take the initiative” on the policy related to the Join.

Regarding how legislators in the state increase assistance in strengthening a favorable environment for cryptocurrencies and cryptocurrencies, Preston said that the creation of a regulatory sand fund for encryption-can help in a long-term working framework, “while there is a long-term regulatory framework in the long term, can help in a long-term long-term work framework for the term.

Blockchain currency collection comes shortly after the Alabama Bloccin Study Committee, which was established by Senator Greg Alberton last year, R-R- Support Alabama is among the most cryptocurrencies and friendly blocks in the country. Shaw and Briston have been appointed as members of the committee.