COLLABORATING WITH STATE AND LOCAL GOVERNMENTS ON BLOCKCHAIN TECHNOLOGY
The State Working Group provides education and advocacy on state-related issues affecting digital currencies and blockchain-based technologies. The State Working Group is working with more than 15 states to help guide them in the appropriate legal and regulatory treatment of blockchain-related applications. One of the most important issues the State Working Group is helping state governments understand is the distinction between digital currencies and blockchain technology, such as the difference between money transfer and records transfer.
Most notably, the State Working Group led the industry’s engagement in the State of North Carolina throughout 2015 and 2016. The result of this effort was the passage of the nation’s first comprehensive blockchain-related legislation into law. This historic “blockchain friendly” bill includes express language on blockchain and multi-signature technology, among others, which is now being incorporated by other states. The State Working Group is chaired by Dax Hansen of Perkins Coie.