The Louisiana BitLicense is closer than you might think.
Listen to article The state of Louisiana might soon pass a bill to offer licenses for crypto businesses to operate legally, according to a May 25 report.
The bill was filed earlier this year with the goal of helping crypto businesses get official licensure and bring more crypto-related business to the state.
The new bill is backed by state representative Mark Weight.
If the bill passes, the state would then have a crypto framework to operate from, defining a number of crypto-related terms.
The new bill got unanimous initial approval from Louisiana's House of Representatives last week, but there is still a long road ahead. The bill next goes to the State Senate, and then to the Committee on Commerce, Consumer Protection, and International Affairs for further approval.
Conducting legitimate crypto business in the US is risky because the country is invested in preventing cryptocurrency from being used illegally.
If Louisiana can successfully pass its crypto license law, the state might join a few others seeking to provide clear regulations for cryptocurrency businesses.
As Cointelegraph previously reported, New York has been championing a rather attentive regulatory approach.
The New York State Department of Financial Services has so far granted just 18 BitLicenses since it began regulating the local crypto market in 2015.
Louisiana Might Soon Offers a License to Bring Crypto Business Back
gepubliceerd op May 25, 2020
by Cointele | gepubliceerd op Coinage
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