区块链 & cryptocurrency 立法 emerging in state legislatures

As blockchain becomes more common in everyday business operations, state legislatures are looking at how it may be regulated. 的se proposals could impact CPA firms with clients who own digital currencies like Bitcoin, as well as firms that are interested in using the technology in their own auditing and accounting services.

的 188bet亚洲真人体育下载’s State Regulation and Legislation Team has identified blockchain 立法 in half a dozen states thus far, and more states are likely to introduce similar proposals throughout the year:

区块链技术

• 的 New York State Assembly 介绍了 a 比尔 that looks at the possibility of using blockchain technology for state record keeping, 信息存储和服务交付. This could impact CPAs and CPA firms that work in 政府 accounting.
• 的 Tennessee legislature is considering 立法 to recognize the legal authority of smart contracts created on the blockchain.
• 亚利桑那州引入了 比尔 to include blockchain in the definition of electronic records and electronic signatures. 的 goal is to recognize the legitimacy of transactions created on the blockchain. As states work out how to recognize and regulate these transactions, it will have a big effect on how CPA firms can move forward with the technology.

Cryptocurrency

• 夏威夷议会 介绍了 a 比尔 to create a uniform regulation of virtual currency businesses. This 立法 would apply to any person or organization that engages in virtual currency business activity with a Hawaii resident – meaning that even firms outside the state should monitor this 比尔 if they do work with Hawaii residents.
• 的 New Jersey legislature is interested in having more digital currency businesses operating in the state. 它正在考虑 比尔 that would establish a regulatory framework to help make that possible.
• 佛蒙特州立法机构引入了一项 比尔 that would allow people to pay their taxes in cryptocurrencies. As clients start to ask about the use and tax treatment of digital funds, CPA firms will need to look to states for guidance on the issue.

区块链 is the underlying technology that supports cryptocurrency. 然而，它也有更多的功能. 这是一个分散的, transparent public ledger where individuals can share information without having to trust a third party to verify the information. Multiple people can access copies of the ledger simultaneously, allowing transactions such as contracts to be recorded and verified without a principal authority.

This could be revolutionary for the CPA profession because the blockchain can record all parts of a transaction in real time from multiple sources, 帮助减少错误. Once records are submitted on the blockchain, 它们不能被改变, 即使是记录的所有者, providing transactions a high level of security. 

Given the disruptive power of these technologies, the 188bet亚洲真人体育下载 will continue to monitor 立法 across the country. CPA firms already using the technology should be mindful of the legislative and regulatory environment in their state, and closely monitor for state 政府s and businesses moving services and records onto the blockchain.