Idaho Cryptocurrency Laws
Regulation of Digital Currencies: Cryptocurrency, Bitcoins, Blockchain Technology
|SB 1303: Effective as of 7/1/2016.
Key Impact: Regulates fiduciary management of digital assets, including digital currency.
|Illinois||SB 1464: Approved by Governor on 8/23/2019; effective as of 1/1/2020.
Key Impact: Would define“virtual currency” as a digital representation of value used as a medium of exchange, unit of account, or store of value, which does not have legal tender status recognized by the United States.
Blockchain Information & Resources:
- Anti-Collusion | What Is Obfuscation?
- Blockchain Attacks: Is No One Safe in the World of Cryptocurrencies?
- Blockchain Technology Explained: What is Blockchain and How Does It Work?
- Digital Currency Transmission Laws and Regulations by State
- Hard and Soft Forks: A Detailed and Simplified Explanation of How Blockchains Evolved
- Legal Issues around Cryptocurrency
- Merkle Trees
- Permissioned and Permissionless Blockchains
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 understanding this underlying technology.
We are dedicated to staying at the forefront as these emerging technologies continue to revolutionize social and economic activities. Contact us to schedule a consultation, or call (214) 984-3410 to discuss your cryptocurrency and blockchain technology concerns.