Alabama has joined the race to become the US Blockchain -Nav, with legislators and industry advocates who work together to drive enabling regulations for the sector.
The accusation is led by Alabama Blockchain Study Commission (ABSC), an advocate group created by the State Senate last year. Chairman of Pro-Blockchain Senator Greg Albritton (R-Atmore) was recently met to discuss how it can fetal blockchain adoption in Yellowhammer State. According to a local outlet, the resolution was to position the state as the Frontrunner in Blockchain technology In the United States
“There are very few states right now that can sit out as really crypto-friendly, or at least open to working with crypto companies and want to interact with them. Crypto entrepreneurs have been seen as the type of Pariahs for so long that it would be a good leg up for the state, in my opinion, ” commented Wade Preston, a founding member of the ABSC and the head of Alabama Blockchain Alliance.
US states have been pushing to become blockchain -Nav in recent years, with WyomingThe Utahand California To be the pioneers in this movement. However, the increase in Donald Trump last year and his victory over Kamala Harris has ruled speed, with over a dozen states that are now rushing to implement the implementation Activate Laws for “Crypto” and Blockchain.
Since Albritton says that positive regulations can position Alabama to attract virtual asset service providers (VASP) who have previously set up in traditional technical hotspots such as California and New York.
“I think we must be at the forefront of this; It’s coming, it’s here. We don’t want to be (i) the tail end, ”he told a local outlet.
Other legislators agreed. Senator Bobby Singleton (D-Greensboro) urged other legislators to front visits the federal government and implement enabling laws that balance to promote innovation and protect investors.
“I think we should continue to listen to experts, learn as much as we can, be prepared to set the rails for consumer protection and be open -minded for the industry as it develops, and still make sure we protect our citizens. “
A legislature has already promised to introduce a blockchain bill this year. Rope. Mike Shaw (R-Hoover) revealed that he worked on the bill last year, which would offer legal security for VASPs in the state.
Shaw spoke to the local outlet and said he is still involved in the bill, which he says will be a first step to make Alabama a “blockchain-friendly state.”
“We obviously want to protect our people, but this new technology has so many applications that can be really good for our state.”
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