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h_sa_2018a_2018-05-02t11:01:45z2 Hearing Summary




PUBLIC
BILL SUMMARY For HB18-1426

HOUSE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS
Date May 2, 2018      
Location RM 271



HB18-1426 - Amended, referred to the Committee of the Whole


11:52:55 AM  

Representative Melton and Representative Pabon, co-prime bill sponsors, presented House Bill 18-1426. Under current law, virtual currency activities are not subject to any state regulation.  The bill exempts the transmission of virtual currency from the Money Transmitters Act in the Division of Banking in the Department of Regulatory Agencies.  The bill defines the term "virtual currency" to mean any type of digital representation of value that is used as a medium of exchange, unit of account, or store of value, which is not recognized as legal tender by the United States government. Representative Melton explained amendment L.002 [Attachment C].

11:58:34 AM  
The committee recessed.
11:59:25 AM  
The committee came back to order.
12:00:01 PM  

Jennifer Waller, Colorado Bankers Association, testified in opposition to the bill, but said her organization was neutral on the bill if amendmend by amendment L.002.

12:01:15 PM  

Represenative Melton and Representative Pabon made concluding remarks about the bill.



12:01:15 PM
Motion Adopt amendment L.002 [Attachment C].
Moved Melton
Seconded Weissman
Benavidez
Hooton
Humphrey
Leonard
Melton
Weissman
Williams D.
Lontine
Foote
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection


12:02:11 PM
Motion Refer House Bill 18-1426, as amended, to the Committee of the Whole.
Moved Melton
Seconded Humphrey
Benavidez Yes
Hooton Yes
Humphrey Yes
Leonard Yes
Melton Yes
Weissman Yes
Williams D. Yes
Lontine Yes
Foote Yes
Final YES: 9   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  PASS