Representatives of Blockchain and Crypto Industries Protest the Nevada Bill
According to reports, Blockchain and crypto sector representatives have voiced their concerns following the announcement of a bill in the Nevada national assembly following a Judiciary Committee hearing on March 12. The bill, dubbed SB 195, proposed by Nevada lawmakers, would introduce new uniform standards to the crypto industry. […]
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According to reports, Blockchain and crypto sector representatives have voiced their concerns following the announcement of a bill in the Nevada national assembly following a Judiciary Committee hearing on March 12.
The bill, dubbed SB 195, proposed by Nevada lawmakers, would introduce new uniform standards to the crypto industry. The new legislation would require crypto-based business (including exchanges) to register with Nevada’s Department of Business and Industry.
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SB 195 is Sponsored by Senator James Obrenschall of the Democratic Party
Senator James Ohrenschall, a Democrat sponsor SB 195 (The Uniform Regulation of Virtual-Currency Businesses Act). It is an effort designed by the Uniform Law Commission to enforce consistent regulations for the cryptocurrency sector. In the Judicial Committee hearing, Ohrenschall remarks that other versions of SB 195 were introduced in the state legislatures of Hawaii, Oklahoma and California.
After an initial explanation bill SB 195, representatives from the crypto sector began to protest the new legislation. The NTA (Nevada Technology Association) said the bill was premature at best. Citing that it would put the state of Nevada at a competitive downside as Blockchain technology is still in its nascent phase. The Nevada Technology Association added that any bill that is designed to regulate the vast evolving Blockchain technology could cause more harm than good to the sector.
Bitcoin Bull, Jeff Garzik, Subpoenaed in $4 Bln Lawsuit Against the Controversial Craig Wright
Bitcoin (BTC) proponent, and Software engineer, Jeff Garzik has reportedly been subpoenaed by a U.S District Court as a part of the ongoing $4 billion lawsuits against Craig Wright. The report came via a document Garzik posted on social media platform Twitter on March 15.
The suit was filed last February at the Southern District of Florida, District Court. The family of David Kleiman (a computer scientist, suspected to have been an initial developer of Bitcoin (BTC) and Blockchain), alleged that Wright stole a whopping 1.1 million BTC after Kleiman passed away.
Wright Allegedly Forged Contracts To Verify the Transfer of Dave’s Assets to Him
After Kleiman passed away in 2013, Wright reportedly contacted his estate, claiming he wanted to help dispose of the BTC fortune. According to Kleiman’s family, Wright didn’t return the funds.
From the official complaint, it is understood that Wright allegedly “forged contracts that legalize a transfer of Dave’s assets to him and firms under his control. Wright allegedly backdated the contracts and forged Kleiman’s signature to make them authentic.”
Wright requested that the court dismiss the lawsuit. A request the court rejected. Court document confirms “the Plaintiffs have sufficient evidence to back a claim for conversion.”
The subpoena requires Garzik appears in court and reveal evidence to the “theory” that Kleiman was actually Satoshi Nakamoto, the elusive creator of Bitcoin. The subpoena also requires the provision of all communications, agreements and documents between Wright and Kleiman.
The document asks Garzik to give information about Bitcoin (BTC) mining between January 1, 2009, and April 2013. It calls for the search for documents concerning Silk Road, Mt. Gox, Liberty Reserve, and the Prometheus Project.
The document also asks for communications between financial cryptographer Ian Grigg, and early Bitcoin investors Richard Zaluski, and Roger Ver. Grigg is the CEO of Center for Strategic Cyberspace + Security Science.