West Virginia lawmakers want to bitcoin money laundering felony

West Virginia lawmakers want to bitcoin money laundering felony

West Virginia lawmakers want to use bitcoin and other digital money laundering behavior of a felony.

Yesterday the West Virginia Senator Bill 2585, from several aspects of the update the state’s money laundering rules, including the definition of “crypto currency” increase in the state, and the definition of “currency”.

Considering the recent national legislature has been promoting the development of new laws on the technology, although it can not be regarded as a digital currency currency, but still worth noting this inclusive.

As the bill:

“Encryption currency” means the digital currency, which will be used to generate encryption technology supervision units of money, and to verify the transfer of funds, and the currency is independent of the central bank operation.”

In the state of West Virginia was convicted of money laundering charges according to the severity of people will face the most long up to 15 years in prison and fined thousands of dollars.

According to LegiScan data, public records show that the measure is strongly supported by members of the legislature, and signed by the 11 sponsors and CO sponsors. The bill has been submitted to the judicial committee of the parliament of West Virginia for further consideration.

Arizona, North Dakota and other parts of the United States has been put forward on behalf of a large number of proposals since the beginning of this year, but West Virginia’s bill was recently the first direct attention to money laundering act.

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