LGC 6.1 - Nonsensical Fraudulent Technology Ban Act of 2022 (PASSED)

[RC (a la Frémont)]

LGC 6.1 - Nonsensical Fraudulent Technology Ban Act of 2022

I. Title and Purpose
This act shall be entitled "Nonsensical Fraudulent Technology Ban Act of 2022." It shall also be cited under the abbreviation "NFT Ban Act"

The purpose of this bill is to ban the online sale, possession, minting, and trade of Non-Fungible Tokens within the region, regulate the commerce of crypto-currency, and end processes that unnecessarily impact the environment.

II. Bar of Sale
a.) All online sale, possession, minting, and trade of Non-Fungible Tokens are hereby banned in the region of Lincoln six (6) months following the passage of this legislation.  
b.) Any company with an online domain allowing the sale or trade of Non-Fungible Tokens within Lincoln must withdraw the ability to do such actions or will be subject to a fine of $5,000,000.
c.) Any individual who participates in the process of minting, trading, or sale of Non-Fungible Tokens will be fined $5,000 per token.

III. Crypto-mining regulation
a.) All machines used to mine cryptocurrencies must be registered with the Lincoln Government. All cryptocurrencies mined under the region of Lincoln shall be subject to a tax of 5% of the value of all crypto mined per year.

b.) No machine within the borders of Lincoln may be allowed to mine crypto for the exclusive purpose of minting Non-Fungible Tokens. All other forms of crypto are hereby allowed under law unless later amended.

IV. Enactment
This bill shall become law six months following signature from the Governor. As such, all crypto users and retailers may adjust to the law's passage within the time period provided.

[Mr. Reactionary]

Excellent idea. In the South we're in the process of banning employers from paying workers in crypto and NFTs but this is a nice, bold proposal by our friends in Lincoln to target dumb ponzi schemes.

[LAKISYLVANIA]

I support the idea.

[RC (a la Frémont)]

I should've mentioned that there's a 48 hour debate period, it's been a bit but I'll get the hang of things again.

That being said if anyone would like to submit amendments or if Brother Johnathan and Bruhgmger would like to comment that would be much appreciated.

[KaiserDave]

I'll sign this

[Brother Jonathan]

I'll submit an amendment

LGC 6.1 - Nonsensical Fraudulent Technology Ban Act of 2022

I. Title and Purpose
This act shall be entitled "Nonsensical Fraudulent Technology Ban Act of 2022." It shall also be cited under the abbreviation "NFT Ban Act"

The purpose of this bill is to ban the online sale, possession, minting, and trade of Non-Fungible Tokens within the region, regulate the commerce of crypto-currency, and end processes that unnecessarily impact the environment.

II. Bar of Sale
a.) All online sale, possession, minting, and trade of Non-Fungible Tokens are hereby banned in the region of Lincoln six (6) months following the passage of this legislation. 
b.) Any company with an online domain allowing the sale or trade of Non-Fungible Tokens within Lincoln must withdraw the ability to do such actions or will be subject to a fine of $5,000,000.
c.) Any individual who participates in the process of minting, trading, or sale of Non-Fungible Tokens will be fined $5,000 per token.

III. Crypto-mining regulation
a.) All machines used to mine cryptocurrencies must be registered with the Lincoln Government. All cryptocurrencies mined under the region of Lincoln shall be subject to a tax of 5% of the value of all crypto mined per year.

b.) No machine within the borders of Lincoln may be allowed to mine crypto for the exclusive purpose of minting Non-Fungible Tokens. All other forms of crypto are hereby allowed under law unless later amended.

IV.  III. Enactment
This bill shall become law six months following signature from the Governor. As such, all crypto users and retailers may adjust to the law's passage within the time period provided.

While I have some concerns about regulating crypto, that is not the primary motivation for this amendment. I essentially think cryptocurrency regulations, if we are going to have them, should be created in a separate piece of legislation. I'd be happy to work with the sponsor on such a proposal, and I think such regulations deserve more thorough treatment in a different bill.

[The world will shine with light in our nightmare]

Hope you folks don't mind if I borrow this for Frémont.

[RC (a la Frémont)]

I'll submit an amendment

LGC 6.1 - Nonsensical Fraudulent Technology Ban Act of 2022

I. Title and Purpose
This act shall be entitled "Nonsensical Fraudulent Technology Ban Act of 2022." It shall also be cited under the abbreviation "NFT Ban Act"

The purpose of this bill is to ban the online sale, possession, minting, and trade of Non-Fungible Tokens within the region, regulate the commerce of crypto-currency, and end processes that unnecessarily impact the environment.

II. Bar of Sale
a.) All online sale, possession, minting, and trade of Non-Fungible Tokens are hereby banned in the region of Lincoln six (6) months following the passage of this legislation. 
b.) Any company with an online domain allowing the sale or trade of Non-Fungible Tokens within Lincoln must withdraw the ability to do such actions or will be subject to a fine of $5,000,000.
c.) Any individual who participates in the process of minting, trading, or sale of Non-Fungible Tokens will be fined $5,000 per token.

III. Crypto-mining regulation
a.) All machines used to mine cryptocurrencies must be registered with the Lincoln Government. All cryptocurrencies mined under the region of Lincoln shall be subject to a tax of 5% of the value of all crypto mined per year.

b.) No machine within the borders of Lincoln may be allowed to mine crypto for the exclusive purpose of minting Non-Fungible Tokens. All other forms of crypto are hereby allowed under law unless later amended.

IV.  III. Enactment
This bill shall become law six months following signature from the Governor. As such, all crypto users and retailers may adjust to the law's passage within the time period provided.

While I have some concerns about regulating crypto, that is not the primary motivation for this amendment. I essentially think cryptocurrency regulations, if we are going to have them, should be created in a separate piece of legislation. I'd be happy to work with the sponsor on such a proposal, and I think such regulations deserve more thorough treatment in a different bill.

That's fair, I can support this amendment. With that said, if there are no objections within 24 hours the amendment will be adopted.

Hope you folks don't mind if I borrow this for Frémont.

Be my guest.

[RC (a la Frémont)]

Amendment has been adopted. I move to proceed with a final vote. 24 hours to object.

[LAKISYLVANIA]

Is the vote already opened, if so: aye

[RC (a la Frémont)]

Yeah I should've opened it by now, I'll count it.

72 hours to vote.

Aye

[Brother Jonathan]

Nay

[RC (a la Frémont)]

Legislation passes 2-1, 1 not voting

[KaiserDave]

Good work