Senate

The US Senate committee on Energy and Natural Resources issued a document stating that mining consumes about 1% of global energy. On public blockchains, mining embroils the computation of a massive amount of mathematical calculations known as hashes. On a normal day, Bitcoin miners collectively compute over 50 billion gigahashes per second.

Recently, the Governor of Maryland, United States, Larry Hogan, officially signed a bill into law to amend the General Corporation Law of the state. Senate Bill 136 enables the industrial use of blockchain by private corporations to carry out proper and secure record keeping. The new amendments will come into force in October this year.

The state of Colorado in the U.S. continues becoming more friendly to blockchain technology and cryptocurrency with every day that passes. The state has officially signed a senate bill 19-023 to exempt digital currencies as securities, and will only be used for consumptive purposes.

Legislators from the state of Utah, U.S. officially introduced a bill “UT SB0213” that would prevent blockchain technology companies from being classified as money transmitters.

The newly appointed Chairman of the Supervisory Committee Paolo Savona, during the hearing of the Senate Finance Committee, explained the main points of his project on blockchain. Consob also focuses on protecting savings, Borsa Italiana reports.

Wyoming (WY) is now the first U.S. state to give authority and direct property rights to all digital currency owners by passing second & third Senate appraisals of Bill SF0125. After that, the bill will head to WY Governor Mark Gordon and its thought it could turn into law very soon – probably next week.

The Italian Republic has continued with its major plan to integrate blockchain technology into the economy of the country. This effort was revealed by the release of the country’s first blockchain technology regulation, according to TPI News – an Italian media.

The amendment to distributed ledger technology (DLT) simplifications on the technologies which are based on registers including blockchain, which were approved in the Senate, carry many potential problems, both substantive and formal. As a matter of fact, several use cases of blockchain technology are basically wrong.

The Italian Senate Committee legally approved an amendment on blockchain technology, but it still requires the approval of both Parliaments before being enforced. The Constitutional Affairs and Public Works – the 8th Italian Senate Committee recently approved a legal amendment on blockchain, which is the only real new industry legislative for Italy.