North Dakota Bitcoin Bill Fails in House Vote

NEWS
Pete Rizzo
Mar 2, 2017 at 16:50 UTC  |  Updated  Mar 2, 2017 at 16:52 UTC

A bill that would have enabled North Dakota lawmakers to more closely study the issue of whether to regulate digital currencies failed to pass a vote yesterday.

At the second reading of the bill in the state's House of Representatives, the motion suffered a strong rejection, with 84 lawmakers voting against the bill, four approving and six abstaining.

The decision follows speculation by the legislature's Business and Labor Committee, which was reported earlier this month to be critical of the bill, according to local news sources.

First introduced in the state senate in January, the bill eventually passed in a unanimous 46-0 vote, eventually moving on to the House of Representatives on 13th January. The bill sought to study "the feasibility and desirability of regulating virtual currency, such as bitcoin", according to the original text.

At the moment, the future of the bill now remains unclear, though it would need to be resubmitted to the Senate for new consideration.

Digital currency companies operating in the state include exchange services Coinbase and Gemini.

Skull image via Shutterstock

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RegulationNorth Dakota