North Dakota legislators go further with the plan for bitcoin regulation

Regulation | February 8, 2017 By:

The North Dakota Senate’s Industry, Business and Labor Committee put forward Bill 2100, which included language for a report on the feasibility of regulating bitcoin. The bill was introduced at the request of the state’s Department of Financial Institutions, the chief finance regulator for the state.

The measure was passed unanimously in the Senate on 12th January with 46 votes. The legislature’s lower chamber has since taken up the bill, though no hearings have been scheduled as of yet. However, the rapid pace in the Senate suggests that the study is likely to be approved once representatives put the measure to a vote.

If passed and signed by Gov. Doug Burgum, the study would put North Dakota on the path to introducing specific regulations for digital currencies.

The legislative proposal comes amid a flurry of activity amongst US state legislatures on the bitcoin and blockchain front.