The Catawba Digital Economic Zone (CDEZ), a project of the Catawba Indian Nation (I am an advisor), has passed a banking and financial services regulatory code. The code allows financial services companies and banks to receive charters to operate a bank similar to that offered by US states. …The goal of the code is to
The post Catawba Digital Economic Zone Passes Banking Code appeared first on Marginal REVOLUTION.
The Catawba Digital Economic Zone (CDEZ), a project of the Catawba Indian Nation (I am an advisor), has passed a banking and financial services regulatory code. The code allows financial services companies and banks to receive charters to operate a bank similar to that offered by US states.
…The goal of the code is to create a “best-of-all-worlds” set of laws that will provide the Nation with: 1) a comprehensive legal code for the regulation of traditional and emerging digital financial activities; 2) legal terms that are already recognized and accepted by the federal government for access to the U.S. and global financial systems; and 3) provisions that enhance the Nation’s sovereignty and create competitive advantages for the Nation’s economic development.
To achieve these objectives, the foundation of the code synthesizes terms from the existing financial codes of three states: South Dakota, North Dakota, and Wyoming. These state codes were selected as a starting point based on their commitment to regulating innovative financial activity to protect consumers and encourage responsible innovation.
The post Catawba Digital Economic Zone Passes Banking Code appeared first on Marginal REVOLUTION.
Economics, Law