Delaware taking wait-and-see approach to blockchain regulation

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Governor Jack Markell issued a Press Release on Delaware stance towards blockchain tech. From a regulatory standpoint the Governor emphasised that he wants to ensure that Delaware’s:

“regulatory environment is welcoming and enabling by observing the industry as it develops further, rather than immediately enacting laws and regulations regarding licensing of blockchain companies, while working with the industry and consumer groups to determine best practices”

Delaware appears interested to see what blockchain tech can do for its incorporation services. The state is a popular location for incorporation due to tax efficient laws; according to the Governor’s press release 85% of US IPOs involve a Delaware company. It is not surprising, therefore, that the Governor is interested to create an:

“appropriate legal infrastructure for distributed ledger shares in cooperation with the Delaware State Bar Association’s Corporation Law Council. Distributed ledger shares hold the promise of dramatic increases in efficiency and speed particularly for multifaceted transactions like incorporation services.”