June 2022 | 201 comments (201 topical, editorial, 0 hidden)

Re: World POW interwebs (none / 1)

ICYMI China's top court calls for blockchain to record vast number of transactions, 31 May supply chain, ahem, mandate from heaven

Published last week, the opinion* [25 May 2022] reveals that the Court has already recorded 2.2 billion items on a judicial blockchain. The Court now suggests 32 more initiatives, most of which concern using blockchain to enhance efficiency of, and trust in, the nation's judiciary.
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That suggests the Courts like the idea of most transactions being recorded on blockchain so that evidence can be easily obtained and verified, a situation that may not appeal to lawyers who often charge plenty of money for discovery of documents in the lead up to large cases.

pirate guideline UPDATE!
Two senators unveil their crypto regulation proposal, 7 June

Introduced by Sens. Cynthia Lummis (R-WY) and Kirstin Gillibrand (D-NY), the proposed bill - dubbed the Responsible Financial Innovation Act -- aims to create ["]clarity["] for regulators and the crypto industry to safeguard investors and consumers.
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The legislation creates a common set of definitions for digital assets, virtual currency [!], payment stablecoins [!!], and smart contracts [!!!] that everyone can abide by. The bill also attempts to settle the score between the Securities & Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) to define which agency has jurisdiction over what.
"[The bill] creates regulatory clarity for agencies charged with supervising digital asset markets, provides a strong, tailored regulatory framework for stablecoins, and integrates digital assets into our existing tax and banking laws," Sen. Lummis said.

Mommy. What is an asset?

The bill makes a clear distinction between digital assets that are securities and those that are commodities by looking at how the asset is used.