Coindesk Logo

Delaware Governor Signs Blockchain Bill Into Law

Delaware Governor Signs Blockchain Bill Into Law

Delaware Governor Signs Blockchain Bill Into Law

A bill that makes it legal to use a blockchain to register corporate shares has become law in Delaware.

A bill that makes it legal to use a blockchain to register corporate shares has become law in Delaware.

A bill that makes it legal to use a blockchain to register corporate shares has become law in Delaware.

AccessTimeIconJul 24, 2017, 12:30 PM
Updated Aug 18, 2021, 6:32 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The governor of the US state best known as the home to a majority of the country's incorporated businesses has officially signed a bill making it explicitly legal for those entities to use blockchain for stock trading and record-keeping.

After weeks of anticipation, Delaware governor John C. Carney Jr. signed the bill on Friday, effectively bringing closure to an effort that began in May 2016 when his predecessor, Jack Markell, launched an initiative to promote blockchain efficiencies in government.

First publicized in March this year and introduced formally in May, the bill, which amends Delaware's General Corporation Law, saw a swift passage by state lawmakers.

The move further comes weeks after it passed a key vote in the state legislature, a milestone advocates sought to label as "historic" given the state's history and the increase in experimentation that could result from legal certainty.

Just how impactful could the law be? Industry analysts suggest that by giving the greenlight to experimentation, the law could make it possible for the custodianship, issuance, redemption and trading to take place on a distributed ledger.

For more on the potential impact, read our full analysis.

Delaware legislature via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.