Jared Polis, the Governor of Colorado, has signed a cryptocurrency-friendly bill exempting digital tokens from state securities laws — if their primary purpose is as a “consumptive.”

Colorado Digital Token Act

In November, Bitcoinist reported that US Representative Jared Polis, who is a known cryptocurrency and blockchain advocate, became Colorado’s Governor.

On March 6, Theresa Szczurek said that Polis has signed Colorado’s Digital Token Act. The act is supposed to enter into effect on Aug 2, 2019, and it aims to cement the state’s position as a “hub for companies and entrepreneurs that seek to utilize cryptoeconomic systems to power blockchain technology-based business models.”

The bill outlines the uncertainties companies face when buying, selling, and even issuing their own cryptocurrencies. It also exempts certain digital tokens from state securities regulations.

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Source: https://thebitcoinnews.com/pro-bitcoin-colorado-governor-signs-cryptocurrency-friendly-bill/