The State of Nevada introduced an Act relating to business entities; revising the definition of “electronic transmission” as it relates to certain communications of certain business entities to include the use of a blockchain; authorizing certain business entities to store certain records on a blockchain; revising provisions authorizing the Secretary of State to adopt regulations to define certain terms to allow certain business entities to carry out their powers and duties using the most recent technology available to include the use of blockchains; revising the definition of “blockchain” to include a public blockchain; and providing other matters properly relating thereto.

The State of Nevada introduced an Act relating to electronic transactions; including a public blockchain as a type of electronic record for the purposes of the Uniform Electronic Transactions Act; providing that a person who uses a public blockchain to secure information does not relinquish any right of ownership related to that information; requiring a governmental agency to consider certain uses of its equipment and software in acquiring, replacing or updating an information processing system; requiring a governmental agency to accept a certified copy of a record in electronic form under certain circumstances; authorizing a governmental agency to charge and collect certain fees relating to a certified copy of a record in electronic form; prohibiting a local government from taxing or imposing restrictions upon the use of a public blockchain; and providing other matters properly relating thereto.

The State of Nevada introduced an Act relating to financial businesses; requiring the Director of the Department of Business and Industry to establish and administer the Regulatory Experimentation Program for Product Innovation; setting forth the requirements for the operation of the Program; providing for a temporary exemption from certain statutory and regulatory requirements related to financial products and services for a participant in the Program under certain circumstances; requiring the Director to submit to the Legislature an annual report on the Program; revising provisions relating to persons who make loans exclusively via the Internet; and providing other matters properly relating thereto.