JUST

2024

when

Simply

<h4><strong>Virginia’s Senate Bill No. 339 has moved forward with unwavering backing from the House of Delegates. The bill’s progress is a big step toward promoting <a href="https://www.altcoinbuzz.io/?s=blockchain" target="_blank" rel="noopener">blockchain</a> innovation and growth. </strong></h4> 
<p>It also shows the state’s dedication to researching and aiding the growth of the crypto sector.</p> 
<h5><strong>Virginia’s Leap Forward in Blockchain and Crypto Innovation</strong></h5> 
<p><span style="font-weight: 400;">What’s Bill 399 about? The bill was introduced on February 5th, 2024, and seeks to establish a workgroup to research and study the crypto ecosystem and other budding tech sectors. The state’s House of Delegates passed the bill on March 4 in an intriguing style. About 97 people stood in support of the bill, with only one against it. Two other lawmakers chose to abstain from voting on the bill.&nbsp;</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> Rights Bill Introduced in <a href="https://twitter.com/hashtag/Virginia?src=hash&amp;ref_src=twsrc%5Etfw">#Virginia</a> <a href="https://t.co/S983SzSN81">https://t.co/S983SzSN81</a></p> 
 <p>— Bitcoin.com News (@BTCTN) <a href="https://twitter.com/BTCTN/status/1748647711203619318?ref_src=twsrc%5Etfw">January 20, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">The bill establishes a special committee with members from the House of Delegates, the Senate, the blockchain sector, and local government. In addition, the group will have a total of 13 members. It would include five senators and five members of the House of Delegates. In addition, there would be two non-legislative members from the blockchain sector and one from the local government.</span></p> 
<p><span style="font-weight: 400;">The group is tasked with completing all of its research on the cryptocurrency ecosystem by November 1, 2024. And to provide its findings “no later than the first day of the 2025 Regular Session of the General Assembly.”</span></p> 
<p><span style="font-weight: 400;">Senator Saddam Azlan Salim <a href="https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB339S1+pdf" target="_blank" rel="noopener">introduced</a> the bill early this year. An aspect of the new law seeks to restrict certain regulations and exempt miners from getting money transmitter licenses. </span></p> 
<h5><strong>US States and Their Crypto Stance</strong></h5> 
<p><span style="font-weight: 400;">US states generally adopt different stances when it comes to regulating the crypto industry. For example, Virginia has made huge progress in pushing for the research of cryptocurrencies. However, Florida offers the best <a href="https://www.altcoinbuzz.io/?s=crypto+tax" target="_blank" rel="noopener">crypto tax</a> benefits in the US.&nbsp;</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">JUST IN: Three more US states have now introduced the Blockchain Basics Act.</p> 
 <p>– Ohio<br>– Mississippi <br>– South Carolina </p> 
 <p>This law protects the right of individuals to hold and transact in <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> against a CBDC <a href="https://t.co/exeyYZulRC">pic.twitter.com/exeyYZulRC</a></p> 
 <p>— Simply Bitcoin (@SimplyBitcoinTV) <a href="https://twitter.com/SimplyBitcoinTV/status/1759665764905197832?ref_src=twsrc%5Etfw">February 19, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">Interestingly, Virginia does not rank among the top five jurisdictions in terms of crypto tax benefits. However, it has one of the most proactive laws for crypto growth in the US. The state recently allocated funds to the development of artificial intelligence and the crypto industry.&nbsp;</span></p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img fetchpriority="high" decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
<p><iframe title="3 Top Altcoin Gems That Are Still CHEAP" width="696" height="392" src="https://www.youtube.com/embed/7I3mTWgmpOM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p> 
<h5><strong>Disclaimer</strong></h5> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/bill-no-339-progress-virginia-push-for-crypto-growth/">Bill No. 339 Progress: Virginia’s Push for Crypto Growth</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Bill No. 339 Progress: Virginia’s Push for Crypto Growth

Altcoin Buzz

Other articles published on Mar 5, 2024

Why is FLOKI down 12% in a bull market?

Crypto Winter Thaw: Do Kwon’s Legal Victory in Montenegro

Algotech (ALGT) Presale Heats Up: Cardano (ADA) Very Bullish, Solana (SOL) Hits New High

Ripple’s XRP Gains Momentum as Analysts Predict Breakthrough

Record-Breaking Surge for Bitcoin Leads to Memecoin Market Rally

College Student Who Paid Off $50,000 In Debt With Profits From Polygon (MATIC) and Shiba Inu (SHI...

Join our free newsletter for daily crypto updates!