US State Delaware Passes Blockchain Friendly Bill
The US state of Delaware passes the long sort after senate bill 69 that was first introduced on the 5th of March 2017. Delaware is now the second state after Nevada as one of the blockchain friendly states as it now supports several initiatives for companies to thrive in the state. According to the Legislation, the bill won a majority in the house with a 40 to 1 in favor of the bill and with a 20 to 0 majority in the Senate. After the bill passed, it was sent to the governor of the state for implementation. No, companies registered in the state can use distributed ledgers for creating and storing data due to the statutory authority given to the corporations due to a recent amendments. This is going to be replacing the stock ledgers which are primarily used for storing company data.
With the recent bill, the chair of the corporate law section of the Delaware Bar association said:
"At a high level, the changes reinforce the forward-looking posture of Delaware’s state government when it comes to business matters, including technological innovation and our corporation law.”
This further lays the foundation for other states and even other countries to adopt blockchain friendly laws.
Yet another huge step for all cryptocurrency. Thanks!
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