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The state of Delaware will legally enforce stock trade on a blockchain

02 July 2017 21:00, UTC

According to Coindesk.com referring to reliable sources, amendments to Delaware state law to make explicit the right to trade stocks on a blockchain have been passed with near unanimity.

The bill passed with near unanimity, with a single vote against. The past vote is the last step before final state adoption of the bill, which was earlier passed in the Senate.

According to Chair of the corporate law section of the Delaware Bar Association, Matthew O'Toole, the state's governor, John Carney, is going to sign the bill into law by the end of July, with an effective date of 1st August. O'Toole added that we look forward to Delaware corporations enjoy the benefits of this innovative new amalgamation of law and technology.

Initially the bill was introduced in 2016 by the previous governor of the state following request of several companies in order to make explicit the legality of stock issuance on a blockchain.