Arizona May Legalize the Crypto Nodes
Arizona may soon legalize the crypto nodes. The House Bill 2602, created by Representative Jeff Weninger and submitted on 6 February was approved by Arizona House of Representatives on 20 February 2018. It has managed to accumulate 55 votes from the total of 60. The next and last step is to be signed by the State Senate.
Nodes represent a redistribution point of a network that safely keeps a copy of all the transactions managed on a block. This information can be then transferred inside the block to another node via the peer-to-peer algorithm.
We want to remember that the lawmaker has specified in the bill that “For the purposes of this section, ‘running a node on blockchain technology’ means providing computing power to validate or encrypt transactions in blockchain technology”.
The bill doesn’t specify about the cryptocurrency miners. However, it stands up to protect any individuals that are using computing features to make available transactions realized on a blockchain algorithm.
Jeff Weninger is known for his successful crypto projects in Arizona
The lawmaker Jeff Weninger is known for his achievements realized in 2017. He managed to create a bill that has legalized the Smart Contracts and blockchain signatures. It was a big success not only for Weninger, but also, for Arizona district.
Also, Weninger has designed a bill that would officially define the following notions: virtual coin, blockchain and virtual coin offering. The document was presented this month.
Once the House Bill 2602 is finally approved by the State Senate, Weninger will cumulate another successful project to his list.