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Titled the “Digital Property Protection and Law Enforcement Act,” the bill would authorize the courts — upon a valid request from the attorney general or a state’s attorney that is made pursuant to the laws of Illinois — to order a blockchain transaction that is executed via a smart contract to be altered or rescinded.
The act would apply to any “blockchain network that processes a blockchain transaction originating in the State.”
Banks are backing away from crypto companies, spooked by a regulatory crackdown that threatens to sever digital currencies from the real-world financial system.
Banking regulators are raising concerns about banks’ involvement with crypto clients following last year’s blowup of Sam Bankman-Fried’s FTX. The Securities and Exchange Commission is aggressively pursuing the industry’s bigger players in a crackdown that threatens to narrow their reach. That move has alarmed bankers who don’t want to do business with customers in the SEC’s crosshairs, people familiar with the matter said.
FBBA Special Notice
Web3 Day At The Capitol May 2nd 2023
The Florida Blockchain Business Association will be hosting its Third Annual Blockchain Day at the Capitol on May 2nd, 2023 in Tallahassee. Stay tuned as more information will be presented in coming news letters. If you are interested in attending please click here and type "Blockchain Day At The Capitol" in the message. This event is limited.
FBBA Featured Member
“I am excited to announce the expansion of Arterra Luxe into Florida. Arterra is eager to bring their exceptional services and diverse portfolio to this thriving market. I am confident that our innovative approach to real estate by utilizing blockchain technologies will be well received by residents and businesses alike.” - Angela Yungk
In The Know
🥇After Bitcoin bear market bottoms, we tend to see a month of drastic price appreciation followed by a month or period of consolidation.
🥇 Bitcoin’s dominance has been on the rise recently. One of the factors that might be helping its rebound in this cycle is the regulatory environment and the clarity US investors have around Bitcoin as a commodity.
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