Michigan’s Proposed Bills State Changes to Blockchain Record is Illegal
Michigan’s state legislature is in the process of possibly passing two bills that would deem individuals making any sort of changes to the public’s blockchain record as criminals, making it an illegal activity.
The news was first reported by CoinDesk, suggesting that state representative, Curt WanderWall made additions to the bills under consideration. The bill that was earlier introduced as punishing, those who “makes, alters, forges or counterfeits a public record,” will also read, “a person that accomplishes a violation… by altering a record made utilizing distributed ledger technology (DLT).”
As for how such an activity will be evaluated as well as other specs have not been released for the time being. While the first bill concerns blockchain, the latter supposedly deals with credit cards involvement in criminal activity, which like the former, was extended with a more refined definition.
While details regarding blockchain crimes have been addressed by the state legislature, cryptocurrency regulations still remain unclear in Michigan. The only announcement regarding cryptocurrencies that Bill Schuette, Michigan State Attorney General made was as an attempt to advise consumers on the high risks tied to it.