Colorado will explore the use of security token offerings for financing capital projects under a bill signed into law Tuesday by Gov. Jared Polis, who has been pushing for his state to become a center of the blockchain economy.
The law directs the state treasurer to study the feasibility of using the tokens for financing capital projects and determine if doing that would be in the state’s best interest. The treasurer has until March 1, 2023, to report findings and a possible recommendation to three legislative committees.
A security token is defined by the law as “a digital, liquid contract made verifiable and secure through the use of blockchain technology that establishes its holder's right to a fraction of a financial asset such as a stock, bond, or certificate of participation.
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