A lawmaker from Utah USA introduced a bill that would prevent the blockchain from being classified by money transfer companies. Republican Senator Daniel Hemmert last week submitted for consideration Senate Bill 213, which proposes that anyone who “facilitates the creation, exchange or sale” of certain blockchain-related products is exempted from the State Money Transfer Act.
The bill also aims to create a legislative group called the Task Force on the Evaluation of Blockchain Pilot Projects to explore the potential of technology in public services.
A 12-member task force would also recommend a pilot project using technology in the state of Utah at the state or municipal level and study the commercial use of the blockchain for “future economic development in Utah”.
Finally, he will prepare a report, including any proposed legislation, for the Interim Committee on Business and Labor and the Committee on Legislative Management no later than 30 November. Similarly, Pennsylvania explained that crypto exchangers and service providers do not require a license to transfer money to work in the state in January.
However, in 2016, the state of North Carolina took the opposite position by adopting an update to the State Law on Money Translators, according to which companies working with bitcoins and other cryptocurrencies receive a license to transfer money.
