Nevada Senators Unanimously Advance Blockchain Tax Ban

Senators in the state of Nevada have unanimously backed a proposal that would block local authorities from instituting taxes or fees on blockchain use.

According to public records, after just over a month of deliberation, the Senate advanced the measure following a 21-0 vote, with zero abstentions.

As CoinDesk reported last month, it’s the first measure of its kind that would prevent local officials from charging money to use a distributed ledger or a smart contract tied to one. Sen. Ben Kieckhefer initially submitted the measure on 20th March.

The bill stipulates:

Other elements of the bill would clear the way for smart contracts and blockchain signatures to become acceptable records under state law, similar to a measure that was signed into law last month in neighboring Arizona.

The bill now moves to the Assembly – the lower chamber of Nevada’s bicameral legislature – for further consideration.

Nevada State Legislature image via Shutterstock