Nevada Senate Votes to Recognize Blockchain Tax Ban Bill
Senators in the state of Nevada have fully supported a blockchain bill, SB 398, that would prevent a local government from taxing or imposing restrictions upon the use of a blockchain. The SB 398 was first filed by Ben Kieckhefer on March 20 and month after, the bill was first introduced, senators in the state of Nevada advanced the bill with full backing with a 21-0 vote.
According to public records, the bill states:
This bill prohibit[s] a local government from: (1) imposing a tax or fee on the use of a blockchain; (2) requiring a certificate, license or permit to use a blockchain; and (3) imposing any other requirement relating to the use of a blockchain.
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Ripple Signs Up Another 10 Banks As Blockchain-Based Payments Grow
Ripple signed up another 10 banks: MUFG, BBVA, SEB, Akbank, Axis Bank, YES BANK, SBI Remit, Cambridge Global Payments, Star One Credit Union and eZforex.com. Ripple Labs continues to grow its client list with small and more substantial banks, engaging clients in the payment service provider market. Ripple CEO Brad Garlinghouse is confident in the technology and views the customer base acceleration logical, stating:
“People know Ripple is the only Blockchain solution for payments that is proven in the real world and it’s driving demand from financial institutions of all kinds and sizes because they want to stay ahead of the curve.”
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Japanese Banks Trial Virtual Currency For Funds Transfers
Members of a Japanese bank consortium, including Bank of Yokohama, Mizuho Financial Group and Resona Bank focused on blockchain, including Bank of Yokohama, Mizuho Financial Group and Resona Bank are set to test a virtual currency-based funds transfer system. The test is the latest from the unnamed consortium, which is led by financial services firm SBI Holdings and a joint venture between that firm and distributed ledger startup Ripple, first launched in January 2016.
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