A new bill filed in the Nevada Senate would, if passed, prevent local authorities from imposing fees or taxes on the use of a blockchain.
, filed yesterday and introduced by Senator Ben Kieckhefer, seeks in part to create a legal basis under state law for the use of blockchain-based records and contracts.
Notably, the bill would also prohibit local governments from taxing the use of the tech or requiring the use of a licensure for that purpose.
The proposed legislation states:
The bill’s impact wouldn’t be limited to those potential economic costs, however.
Kieckhefer's proposal would prohibit the exclusion of blockchain records in "proceedings", noting at one point that "if a law requires a record to be in writing, submission of a blockchain which electronically contains the record satisfies the law".
"A smart contract, record or signature may not be denied legal effect or enforceability solely because a blockchain was used to create, store or verify the smart contract, record or signature," the bill goes on to state. "In a proceeding, evidence of a smart contract, record or signature must not be excluded solely because a blockchain was used to create, store or verify the smart contract, record or signature."
The proposal is similar to a bill put forward in Arizona last month, constituting a further move to legitimize the use of blockchain records at the state level, with a previous effort also being pursued last year in Vermont.
Nevada State Capitol image via Shutterstock
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