2908DD46A5D1ECE38725827F007E251E Hearing Summary CLICS/CLICS2018A/commsumm.nsf PUBLICBILL SUMMARY For HB18-1220SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGYDate Apr 30, 2018 Location SCR 354 HB18-1220 - Postponed Indefinitely Attachment Tag File Name Attachment E http://www2.leg.state.co.us/CLICS/CLICS2018A/commsumm.nsf/0/651B5A27A9C9...$File/18SenateBus0430AttachE.pdf?OpenElement 18SenateBus0430AttachE.pdf 04:57:54 PM The committee came back to order. Senator Tate introduced House Bill 18-1220, concerning regulation of cryptocurrency. The bill defines terms related to cryptocurrency exchanges and excludes cryptocurrency activity from the definition of an investment contract. 05:00:15 PM David Cheval, Division of Banking, Department of Regulatory Agencies, spoke in opposition to the bill. 05:03:31 PM Sean Clifford, Colorado Attorney General's Office, spoke in opposition to the bill. 05:03:56 PM Marguerite Salazar, Executive Director, Department of Regulatory Agencies, spoke about the bill. She responded to questions from the committee. 05:10:06 PM Mr. Cheval responded to questions from the committee. 05:13:28 PM Krista Pontius, Bull Pay, spoke in favor of the bill. 05:15:52 PM Paul Quigley, Block Lab Enterprises, spoke in favor of the bill. 05:19:05 PM Mr. Quigley responded to questions from the committee. 05:27:27 PM Senator Tate made closing comments on the merits of the bill. He distributed Amendment L.005 (Attachment E). 05:37:07 PM Motion Adopt amendment L.005 Moved Tate Seconded Jahn Kerr Priola Smallwood Williams A. Neville T. Tate YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection 05:37:46 PM Motion Refer House Bill 18-1220, as amended, to the Committee of the Whole. Moved Tate Seconded Jahn No Kerr No Priola No Smallwood Yes Williams A. No Neville T. Yes Tate Yes YES: 3 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: FAIL 05:39:07 PM Motion Postpone House Bill 18-1220 indefinitely. Moved Priola Seconded Jahn Yes Kerr Yes Priola Yes Smallwood No Williams A. Yes Neville T. No Tate No Final YES: 4 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: PASS