Nevada Lawmakers Scrap Flawed Cryptocurrency Bill

Lawmakers in Nevada have failed to move forward with a controversial bill for cryptocurrency regulations based on the flawed regulatory model proposed by the U.S. Uniform Law Commission (ULC).

Nevada Congress Takes no Action on SB195

The deadline for further action on SB195 on the floor of the Nevada Senate passed on Friday (April 12, 2019). With no action taken, the bill is effectively dead in the water and marks a victory for cryptocurrency stakeholders in the state.

Great work by Nevada Bitcoiners killing @uniformlaws evil URVCBA attack on individual property rights & monetary sovereignty.

Now NV can pass good legislation like WY bills @CaitlinLong_ @Tyler_Lindholm @senatordriskill & others worked so hard on. Reduce legal attack vectors! pic.twitter.com/fzI15aSfNP

— Trace Mayer (@TraceMayer) April 16, 2019

SB 195 sought to implement the ULC’s Uniform Regulation for Virtual Currency Business Act (URVCBA) and the Uniform Supplemental Commercial Law for the URVCBA.

The bill introduced back in February 2019 was met with…