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North Carolina Senate Approves Bitcoin Bill

A bill requiring money transmission licenses for companies working with digital currencies in the state of North Carolina has passed.

Updated Sep 11, 2021, 12:21 p.m. Published Jun 28, 2016, 4:22 p.m. 1 min read
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The North Carolina General Assembly yesterday passed an update to the state's Money Transmitters Act, which now mandates that companies working with bitcoin and other cryptocurrencies obtain a money transmitter license.

The bill

replaces the current statutory article pertaining to money transmission licenses, incorporating much of the existing law and explicitly identifying virtual currencies such as bitcoin as subject to the law.

Forty-three members of the North Carolina Senate voted to pass the measure. Three legislators voted against the update. The approval came after the state House of Representatives voted overwhelmingly in favor of the update in mid-May.

The state of North Carolina charges $1,500 to apply for a money transmitter license in addition to a base amount of at least $5,000 for an annual assessment.

The bill isn't enshrined in law yet, however. Once passed by both chambers, the bill will then be sent to Governor Pat McCrory for consideration.

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(Win McNamee/Getty Images)

CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.

Lo que debes saber:

  • Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
  • A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.