State Sen. Alison Clarkson has introduced a bill that will allow the creation of limited liability businesses involved in blockchain and cryptocurrencies in Vermont. The new companies will be taxed by the state in any coin they make, and at a low rate of $0.01.
The bill also proposes a study that could see the use of blockchain technology to establish a Vermont e-residency program. It requires officials to study Estonia’s blockchain-based e-residency program. Since that allows citizens to register as e-citizens and digitally sign documents, encrypt and share them as they wish, register entities online, and digitally run a company from anywhere in the world.
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