Washington State shouldn’t let blockchain regulation go to pot54

Washington State recently passed SB5638, “recognizing the validity of distributed ledger technology,” to much fanfare in the local community, but the bill itself does little to position Washington as a hub of blockchain innovation and without quick and decisive action, we could very well be on a path to repeat the same mistakes made in the course of regulating the legalization of cannabis in Washington.

If you happen to have paid attention to what’s happened with the legalization of cannabis in Washington, progressives similarly celebrated the passage of I-502 back in 2012, but our failure to follow-up with appropriate regulations has stunted business development, investment, and tax revenue while making Washington a laughing stock among the international cannabis community.

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