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HB18-1220

Bitcoin Dealers Licensed As Money Transmitters

Concerning a requirement that persons who deal in cryptocurrency be regulated under the laws regulating money transmitters.
Session:
2018 Regular Session
Subjects:
Business & Economic Development
Financial Services & Commerce
Bill Summary

Under current law, persons who offer cryptocurrency "wallets", buy or sell cryptocurrencies, or exchange cryptocurrency with fiat currency are not clearly outside the scope of activity subject to the "Colorado Securities Act" or the "Money Transmitters Act". The bill defines a new term, "open blockchain token", to describe a unit of cryptocurrency (e.g., bitcoin), and amends the definition of a security to exclude an open blockchain token so long as it is developed and sold in accordance with specified standards.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Lost

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. J. Melton
Sen. J. Tate

Sponsor

Co-sponsor

Rep. A. Garnett, Rep. J. Singer, Rep. K. Van Winkle, Rep. A. Winkler

Pursuant to HJR20-1007, the Second Regular Session of the 72nd General Assembly is Temporarily Adjourned until 10:00 a.m., Monday, March 30, 2020. 

COVID-19 Resources

Temporary Guidelines for Review and Comment Meetings

The legislature will meet in limited session on Monday, March 30th. The Capitol will be open for the duration of the session for those with essential business related to the session. The building will not be available for public tours. People without essential business are encouraged to access the session through the General Assembly website and Colorado Channel.  Anybody with essential business related to the session will be required to practice appropriate social distancing measures.