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First Regular Session | 75th General Assembly
Colorado General Assembly

PUBLIC
BILL SUMMARY For HB18-1220

SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGY
Date Apr 30, 2018       Location SCR 354

HB18-1220 - Postponed Indefinitely
04:57:54 PM  

The committee came back to order.  Senator Tate introduced House Bill 18-1220, concerning regulation of cryptocurrency.  The bill defines terms related to cryptocurrency exchanges and excludes cryptocurrency activity from the definition of an investment contract.
05:00:15 PM  
David Cheval, Division of Banking, Department of Regulatory Agencies, spoke in opposition to the bill.
05:03:31 PM  
Sean Clifford, Colorado Attorney General's Office, spoke in opposition to the bill.
05:03:56 PM  
Marguerite Salazar, Executive Director, Department of Regulatory Agencies, spoke about the bill. She responded to questions from the committee.
05:10:06 PM  
Mr. Cheval responded to questions from the committee.
05:13:28 PM  
Krista Pontius, Bull Pay, spoke in favor of the bill.
05:15:52 PM  
Paul Quigley, Block Lab Enterprises, spoke in favor of the bill.
05:19:05 PM  

Mr. Quigley responded to questions from the committee.
05:27:27 PM  
Senator Tate made closing comments on the merits of the bill.  He distributed Amendment L.005 (Attachment E).

05:37:07 PM
 Motion Adopt amendment L.005
Moved Tate
Seconded
Jahn
Kerr
Priola
Smallwood
Williams A.
Neville T.
Tate
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection

05:37:46 PM
 Motion Refer House Bill 18-1220, as amended, to the Committee of the Whole.
Moved Tate
Seconded
Jahn No
Kerr No
Priola No
Smallwood Yes
Williams A. No
Neville T. Yes
Tate Yes
YES: 3   NO: 4   EXC: 0   ABS:  0   FINAL ACTION:  FAIL

05:39:07 PM
 Motion Postpone House Bill 18-1220 indefinitely.
Moved Priola
Seconded
Jahn Yes
Kerr Yes
Priola Yes
Smallwood No
Williams A. Yes
Neville T. No
Tate No
Final YES: 4   NO: 3   EXC: 0   ABS:  0   FINAL ACTION:  PASS