One of several bills signed into law by Nevada Governor Brian Sandoval June 5, Senate Bill 398 was sponsored by Senator Ben Kieckhefer and recognizes blockchain technology as a type of electronic record.
The bill includes the following legal requirements for county commissioners to follow:
A board of county commissioners shall not: (a) Impose any tax or fee on the use of a blockchain by any person or entity; (b) Require any person or entity to obtain from the board of county commissioners any certificate, license or permit to use a blockchain; or (c) Impose any other requirement relating to the use of a blockchain by any person or entity.
News.Bitcoin.com commented, “The bill is meant to create an environment that is hospitable rather than hostile to new technology startups, and it is the first one to recognize smart contracts as legitimate and binding.”