PUBLIC STAFF SUMMARY OF MEETING HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR
Date |
04/12/2018 |
Attendance |
Arndt |
* |
Coleman |
X |
Exum |
X |
Garnett |
* |
Gray |
X |
Liston |
X |
Sandridge |
X |
Sias |
E |
Thurlow |
X |
Van Winkle |
X |
Williams D. |
X |
Winter |
* |
Kraft-Tharp |
X |
|
Time |
01:32:34 PM to 02:49:16 PM |
Place |
LSB A |
This Meeting was called to order by |
Kraft-Tharp |
This Report was prepared by |
Elizabeth Burger |
|
Hearing Items |
Action Taken |
hHB18-1220 |
Amended, referred to House Finance |
|
|
HB18-1220 - Amended, referred to House Finance
|
|
|
01:32:44 PM |
Representative Melton introduced House Bill 18-1220. He distributed amendment L.002 (Attachment A), which is a strike-below amendment. As amended, the bill defines the term "open blockchain token" and specifies that the definition of "investment contract" does not include an open blockchain token that is developed or sold for a consumptive purpose where the buyer at or near the time of sale has no expectation of profit. He responded to questions from the committee.
|
|
01:44:10 PM |
Representative Kraft-Tharp asked those in the audience who were in favor and opposed to the bill to stand.
|
|
01:45:14 PM |
Jerry Rome, Securities Commissioner, Department of Regulatory Agencies, testified regarding the bill and potential amendments and responded to questions from the committee regarding initial coin offerings and blockchain tokens. He spoke regarding the state's securities laws and how they relate to the provisions of the bill.
|
|
01:57:42 PM |
Eric Weissmann, Centazo, testified in support of amendment L.002.
|
|
02:01:11 PM |
Jon Shapiro, Ideas by Nature, testified
in support of amendment L.002.
|
|
02:05:01 PM |
Cooper Kernan, CU Blockchain, spoke in support of innovation in the blockchain arena.
|
|
02:06:15 PM |
Mr. Shapiro, Mr. Kernan, and Mr. Weissmann
responded to questions from the committee.
|
|
02:09:33 PM |
Justin Ellis, Ideas by Nature, testified regarding the bill.
|
|
02:17:20 PM |
Scott Sanderson, representing himself, testified in support of amendment L.002.
|
|
02:18:18 PM |
Hannah Parsons, National Cybersecurity Center, testified on the bill from a neutral position. She responded to questions from the committee.
|
|
02:23:06 PM |
Jill Richmond, Digital Asset Trade Association, testified in support of the bill, as amended by L.002.
|
|
02:23:50 PM |
David Gold, Access Venture Partners, testified in support of the bill as amended by L.002, and discussed the differences between utility tokens and security tokens.
|
|
02:27:15 PM |
Erik Voorhees, ShapeShift, testified in support of the bill
as amended by L.002. He responded to questions from the committee.
|
|
02:30:45 PM |
Mr. Gold, Mr. Voorhees, and Ms. Richmond
responded to questions from the committee.
|
|
02:33:57 PM |
Michael Perklin, ShapeShift, testified in support of the bill as amended by L.002.
|
|
02:37:49 PM |
Kiara Burgemeister, Key Hodlers LLC, testified in support
of the bill as amended by L.002.
|
|
02:39:48 PM |
Paul Quigley, BlocLab Enterprises, testified in support of the bill as amended by L.002.
|
|
02:42:18 PM |
Mark Jackson, Microtick, testified in support of the bill as amended by L.002.
|
|
02:44:13 PM |
Jeff Perrin, the Spiga Group, testified in support of the bill as amended by L.002.
|
02:47:38 PM
|
Motion |
Adopt amendment L.002 |
|
Moved |
Gray |
|
Seconded |
Sandridge |
|
|
|
|
Arndt |
|
|
|
Coleman |
|
|
|
Exum |
|
|
|
Garnett |
|
|
|
Gray |
|
|
|
Liston |
|
|
|
Sandridge |
|
|
|
Sias |
Excused |
|
|
Thurlow |
|
|
|
Van Winkle |
|
|
|
Williams D. |
|
|
|
Winter |
|
|
|
Kraft-Tharp |
Excused |
|
|
|
YES: 0 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: Pass Without Objection |
|
|
02:48:58 PM
|
Motion |
Refer House Bill 18-1220, as amended, to the Committee on Finance. |
|
Moved |
Williams D. |
|
Seconded |
Gray |
|
|
|
|
Arndt |
Yes |
|
|
Coleman |
Yes |
|
|
Exum |
Yes |
|
|
Garnett |
Yes |
|
|
Gray |
Yes |
|
|
Liston |
Yes |
|
|
Sandridge |
Yes |
|
|
Sias |
Excused |
|
|
Thurlow |
Yes |
|
|
Van Winkle |
Yes |
|
|
Williams D. |
Yes |
|
|
Winter |
Yes |
|
|
Kraft-Tharp |
Excused |
|
|
Final |
YES: 11 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS |
|
|
02:49:16 PM |
Committee Adjourned |