“North Carolina Gov. Roy Cooper has signed a bill supporters say will protect consumers from harmful products and services and offer more choices. House Bill 624, dubbed the North Carolina Regulatory Sandbox Act, allows companies to temporarily offer trials of financial or insurance products or services to consumers without being subjected to certain licensing or other regulatory requirements. HB 624 creates a North Carolina Innovation Council to select insurance or financial companies or entrepreneurs for a two-year sandbox program. Those selected would be authorized to offer an "innovative" product or service, which is defined as a product or service that uses technology to address a problem, provide a benefit or create something novel in the state. Products could include cryptocurrency or blockchain technology. The program will be overseen by either the Office of the Commissioner of Banks or the Department of Insurance, depending on the product or service being offered. The 11-member North Carolina Innovation Council would include the commissioner of banks, commissioner of insurance, secretary of state and the attorney general or their designees. The governor and legislative leaders each would appoint two members from the public, and the lieutenant governor would assign one member from the public to the council. Raleigh-based free-market think-tank John Locke Foundation said a regulatory sandbox would keep North Carolina competitive and encourage more businesses to come to the state.”
While this is amazing news for Blockchain enthusiasts everywhere, we hope Pennsylvania will soon follow suit. Congratulations North Carolina!
Good news for the US Blockchain market
“With the industry on the verge of potentially getting the first bitcoin ETF listed in the U.S. on Monday, registrations for new futures and spot-based bitcoin ETFs continued to be filed with the SEC at an astonishing pace. The past 7 days alone saw registrations filed for ETFs from BlockFi, Bitwise, and ARK. By our count, there are currently 13 ’33 Act spot-based ETFs and 11 ’40 Act futures-based ETFswith active registration statements. This does not include various equity ETFs, which propose to invest in publicly traded miners, exchanges, and blockchain infrastructure companies. While the outcome of a potential bitcoin futures ETF listing is still unknown, the financial industry is excited about the potential to expand access to the asset class through various fund formats.”
As the US becomes a Global leader, and more states adopt Blockchain legislation there's no doubt that Blockchain technology will soon lead all conversations about technological and financial innovation.
