Nevada Lawmaker has filed a new bill that seeks to not only recognize and authorize the use of blockchain technology, but also prohibit a local government from taxing or imposing restrictions upon the use of the technology.
Filed in the Nevada Senate by Senator Ben Kieckhefer, Nevada Senate Bill 398 aims to create a legal basis for the use of blockchain technology under state law, CoinDesk reported. It states:
"A local governmental entity shall not: (a) Impose any tax or fee on the use of a blockchain or smart contract by any person or entity; (b) Require any person or entity to obtain from the local governmental entity any certificate, license or permit to use a blockchain or smart contract; or (c) Impose any other requirement relating to the use of a blockchain or smart contract by any person or entity."
The bill also proposes a blockchain or a smart contract to be deemed as an electronic record, noting that "if a law requires a record to be in writing, submission of a blockchain which electronically contains the record satisfies the law".
"A smart contract, record or signature may not be denied legal effect or enforceability solely because a blockchain was used to create, store or verify the smart contract, record or signature," the bill states. "In a proceeding, evidence of a smart contract, record or signature must not be excluded solely because a blockchain was used to create, store or verify the smart contract, record or signature."
