Colorado Blockchain Legislation Status

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Colorado Cryptocurrency Laws
Regulation of  Colorado Digital Currencies: Cryptocurrency, Bitcoins, Blockchain Technology

Colorado HB 1247
Signed by governor 5/30/19, Chapter 375
The bill directs the commissioner of agriculture to convene an advisory group to study the potential applications for blockchain technology in agricultural operations and to report to the General Assembly in 2020 with its findings and recommendations for legislation, if any. The advisory group is subject to repeal July 1, 2020.
Colorado SB 184
Postponed indefinitely 3/21/19
The bill directs the Colorado Water Institute at Colorado State University to study the potential uses of blockchain technology to manage a database of water rights; facilitate the establishment or operation of water markets or water banks, and for any other useful purpose in the administration of the institute’s powers and duties; and report the results to the General Assembly.

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Digital Currency

Virtual and cryptocurrencies are built on blockchain technology—a technological innovation that allows for a distributed, decentralized digital ledger generally built upon cryptographic mechanisms and complex consensus protocols. From a legal perspective, many of the tax, regulatory, and other legal issues associated with blockchain technology and cryptocurrency require an understanding of this underlying technology.

Cryptocurrencies involve unique tax considerations. Businesses and individuals need up-to-date guidance and insight regarding the tax law and its impact on virtual currency activities at the state, federal, and international levels. Freeman Law is positioned to advise clients on the latest cryptocurrency tax strategies and thinking.

Is cryptocurrency legal in Colorado?

Have Cryptocurrency or Blockchain issues or questions?
Freeman Law is dedicated to staying at the forefront as these emerging technologies continue to revolutionize social and economic activities. Contact Freeman Law to schedule a consultation or call (214) 984-3410 to discuss your cryptocurrency and blockchain technology concerns.