Monthly Archives: February 2023

Nevada Legislature is considering a bill that would create a statewide securities restitution fund for victims of securities fraud. This issue is being dominated by crypto actions in our media feeds. The state would use securities enforcement actions to fill the coffers of the restitution fund. The Nevada Secretary of State, the brains behind the […]

Mississippi Senate passed its Digital Asset Mining Act, SB 2603 (2023 | MS) . The bill will accomplish 3 things: protect crypto mining equipment in industrial zones from land use enforcement actions; prohibits charging mining companies unfair energy fees; and removes miners from the definition of “money transmitters.” Bitcoinist | On Crypto And Discrimination: Mississippi Passes […]

Montana wants to protect Crypto Miners. A county in Montana was the first in the nation to create zoning laws to protect residents from crypto mining. SB 178 (2023 | MT) would up end Missoula’s zoning protections by ” protecting at-home mining, prevents discriminatory utility rates for miners and stipulates that crypto used as payment […]

Let’s meet the contenders: Georgia has SB 93 banning TikTok from state devices with the exceptions for use by law enforcement, academic researchers and judicial proceedings. An Arizona legislator will amend a technical correction bill to add a TikTok ban for state devices and restrictions on higher education networks. Florida Governor has announced a bill […]

New Jersey’s Digital Asset and Blockchain Technology Act supporters say it goes further than New York’s crypto currency legislation by addressing custody issues. It will require that  digital assets custody must maintain “an amount of each type of digital assets sufficient to satisfy the aggregate entitlements of the persons to the type of digital asset.”  […]

Texas Legislature may consider a sales tax holiday for cryptocurrency purchases. The sales tax holiday would last 2 years. Forbes notes that “NFL football team the Houston Texans for payment of single-game box suites since August 2022.” Forbes | No Tax On Crypto Purchases — Texas Proposals Go Big On Digital Assets

States that have added NFTs to their tax structure are Pennsylvania and Washington State. Each state’s Department of Revenue provided guidance for the application of the state sales tax to NFTs. Read Pennsylvania’s and Washington’s Route Fifty | Top Sales Tax Trends to Watch in 2023.

Maryland is considering a regulatory framework for the ruse of facial recognition software. HB 223 (2023 | MD) The author referred to having a system with no rules or training creates a Wild Wild West scenario. The bill would require training, annual compliance, and limit the use of facial recognition software to these crimes: violent […]

Civil litigation against endorsers/promoters of cryptocurrency and NFTs is picking up steam. It seems celebrities who endorsed these items didn’t realize their state and federal rules for endorsing investments. Ooopsie Daisy. @WallStreetJournal