Arizona, home of the first U.S. FinTech Sandbox, has admitted another cryptocurrency startup into the program that is designed to ease regulatory burdens for entrepreneurs in the financial technology space. According to a statement released by Attorney General of Arizona, Mark Brnovich, ALTA becomes the seventh firm to be inducted into the regulatory sandbox. On its website, ALTA describes itself as a “digital payment club where cash-intensive businesses pay each other using digital tokens instead of cash.” Continue reading MARIJUANA STABLECOIN ASKED TO PLAY IN ARIZONA FINTECH SANDBOX
The number of blockchain bills before the Arizona state legislature is growing, public records show. Arizona state representative Jeff Weninger introduced two measures focused on the tech last week, including one that would begin laying down ar regulatory framework for initial coin offerings (ICOs) conducted in the state. Two new bills introduced by the representative include “virtual coin,” “blockchain” and “virtual coin offering” as new terms to be included in the Arizona government’s list of definitions, particularly as they relate to securities and crowdfunding. Notably, the first bill defines “virtual coin” as “a digital representation of value that can be digitally traded and that functions as a medium of exchange, unit of account and store of value.”
Lawmakers in Arizona, a blockchain friendly state, have proposed allowing residents to pay their taxes in bitcoin. State Rep. Jeff Weninger, a co-sponsor for the bill, which the senate finance committee has already passed, said the measure will send a signal to the U.S. and possibly worldwide that Arizona is a place for blockchain and digital currency. The law would enable the ease of being able to pay taxes in the middle of the night or while at home watching TV, Wininger said. In a few years, he said the issue won’t even be a question.