Category Archives: bitcoin

Campaign TREND. +1 State Moving to Regulate Bitcoin Campaign Contributions

State:  California

California Regulatory Agency: California Fair Political Practices Commission

Recommendation from the California Agency Legal Counsel: 

  • cryptocurrency contributions do not violate the state’s Political Reform Act
  • BUT, “could be significant difficulties in establishing the true source of bitcoin donors”
 

Local TREND. Ransomeware Cost Increase in Atlanta.

Atlanta officials are asking for an additional $9.5 million to recover from a ransomeware attack.

What do I need to know about Atlanta’s ransomware attack?

  • Worst ransomware attack in US history
  • More than 1/3  of the city’s 424 software programs were offline, fully or partially
  • The $35 million budget for the technology department is not enough to recover 
  • The ransom was  $51,000 worth of bitcoin

Reuters | Atlanta officials reveal worsening effects of cyber attack 

Utility tokens. Bit Coin + Energy. 3 Bits informed intel:

  • Utility tokens are a hot commodity among bitcoin currencies
  • Why are utility tokens popular?
    • some think they offer legal protection from regulatory schemes
    • others think utility tokens are key to block chain’s future
  • Utlity tokens will most likely be regulated by the SEC and State Securities Boards

Texas Lawyer | Ready Player One? Avoid Getting Played on Utility Tokens

Campaign TREND begets Regulatory TREND. An Ethics Commission + Campaign Contributions in Bitcoin = Regulations

State: Wisconsin

What did Wisconsin’s Ethics Commission do about bitcoin campaign contributions? The Ethics Commission Administrator asked the Legislature to make a determination on how to handle bitcoin contributions

What 2 policy reasons did the Ethics Commission give to the Legislature? 

  • “provide clarity to candidates and committees as to whether they may accept contributions of cryptocurrency.”
  • concern over the anonimity of bitcoin contributions

What prompted bitcoin as campaign…

Data Security Issues at the Conference of Western Attorneys General. 5 Topics. 2 Enacted Laws

Conference of Western Attorneys General will be discussing the following data security issues this year:

  • data privacy, cybersecurity, and digital piracy
  • breach notification
  • the European Union’s data protection regulations
  • national security & cybersecurity intersection
  • FinTech

Enacted Laws to be highlighted:

  • Arizona’s Regulatory Sandbox Program, signed into law by Governor Doug Ducey on March 22, 2018
  • Arizona House Bill 2154 into law on April 11, 2018 that prioritize data privacy in…

Lege Trend. Indian Paintbrush State calls for No Regulation for Bitcoin. 3 Points from the Bill + 3 reasons good for Tech.

Wyoming HB 0070 (2018) will create this regulatory system for bitcoin in Wyoming:

  • Creates an open blockchain token
  • Cannot be marketed as an investment or part of a repurchase agreement
  • Exchange of open blockchain does not trigger broker dealer regulations

3 Tech commentaries:

  • Wyoming is forward-thinking to allow freer reign for cryptocurrency companies
  • Makes Cheyenne intruiging to a  few dozen crypto startups
  • Wyoming revealed its willingness to be a “test bed for future regulation”

The…