Vermont Governor Signs Blockchain Bill

Blockchain, News, Regulation | June 14, 2017 By:

Vermont Governor Phil Scott has signed a bill that mandates an official study into blockchain technology and the many potential applications it could hold in state administration.

Signed on June 8, Senate Bill 135 is designed to examine the prospects for the blockchain industry while analyzing the opportunities created by the technology.

The study, to be delivered by November 30, will look at ways Vermont can attract blockchain startups, as well as supporting their efforts to develop blockchain technology, with a view to attracting more jobs and tax revenue from the sector.

The bill will see contributions from the Department of Financial Regulation, the Vermont Center for Legal Innovation, and the Attorney General’s Office, in pioneering the study and its findings.

Last month, Vermont passed Bill 182, a law that updates the state’s money transmission rules to include a definition for “virtual currencies.”