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Litecoin regulates who mines

litecoin regulates who mines

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Litecoin regulates who mines

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litecoin regulates who mines

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Yes, there are no special rules in South Africa regarding foreign applicants. However, the holder of the right must comply with the ownership requirements stipulated in terms of the Mining Charter. Any change in the controlling interest of a company that holds a mining or prospecting right in terms of the MPRDA requires ministerial consent prior to the implementation of the change. The only exclusion is where the change in the controlling interest occurs in respect of a listed company.

There are no ownership requirements for indigenous persons or entities. This term, in turn, refers to persons or categories of persons who were disadvantaged by unfair discrimination before the advent of democracy in South Africa, and the enactment of the Constitution of South Africa.

No, the State does not have free carry rights or options to acquire shareholdings in mining or prospecting rights. In efforts to promote and encourage beneficiation, the Mining Charter provides that mining companies may offset the value of the level of beneficiation achieved by the company against its BEE ownership requirements. They further provide that a person who wishes to process, refine, beneficiate, sell, import or export precious metals and unpolished diamonds must first obtain the relevant licence to do so.

If a person intends to beneficiate any minerals outside of South Africa, such holder may only do so after written notice and in consultation with the Minister. There are restrictions on the export of certain minerals, such as unpolished diamonds in terms of the Diamonds Act, and precious metals in terms of the Precious Metals Act, Mining and prospecting rights may only be transferred with the prior written consent of the Minister. Reconnaissance permissions and mining permits are not transferable.

The MPRDA also contains restrictions on the ability to transfer reconnaissance permissions, prospecting rights, mining rights, exploration rights and production rights. Reconnaissance permissions are not capable of being bonded, but exploration, production, prospecting and mining rights are all capable of such. It is possible to encumber a mining or prospecting right for the purpose of raising finances. However, prior written consent from the Minister is required in such instances.

The exception to this rule is when the lender is a bank as defined in terms of the Banks Act, , or a financial institution approved for that purpose. The bonds are registered in the Mining Titles Registration Office. Prospecting and mining rights are capable of subdivision with the consent of the Minister. Consultation with interested and affected parties must occur prior to the consent being granted, and there may be consequential amendments to the environmental management plans, work programmes and social and labour plans.

However, reconnaissance permissions may not be subdivided. No, the holder of a primary mineral is not entitled to explore or mine for secondary minerals in respect of which they do not hold a right. Should there be secondary minerals in the land, the holder may not dispose of them unless the holder applies for, and is granted, the opportunity to amend their right to include such minerals. Provided that the holder of such right has received the necessary waste management licence, if relevant, the holder will be entitled to process a residue stockpile that was created on the land by that holder during the course of its operations as stipulated by the MPRDA.

Although the MPRDA does not grant ownership of the surface of the land to the holder of a mining or prospecting right, it does provide the holder with broad statutory rights, including the right to: enter the land to which the right relates together with its employees; bring onto the land any plant, machinery or equipment; and build, construct or lay down any surface or underground infrastructure which may be required for the purpose of prospecting or mining after written notice to the landowner or lawful occupier.

Before a mining or prospecting right or reconnaissance permit is granted, the applicant has an obligation to consult with the landowner or lawful occupier. There is no automatic legal obligation on the holder of a right under the MPRDA to make payment of any rental in respect of the land. However, there is a section in the MPRDA which specifically deals with the payment for loss or damage to a landowner. Furthermore, there are special consent requirements in relation to holders of informal rights in land in terms of the Interim Protection of Informal Land Rights Act, The Minister may, in accordance with the Constitution, expropriate any land or any right therein and pay compensation in respect thereof to the affected party if it is necessary for the achievement of the objects of the MPRDA, and provided that it is in the national interest.

An environmental authorisation is required in terms of the NEMA before the commencement of any prospecting or mining activities. Often, an integrated application is made which includes activities listed in terms of the Waste and Water Acts.

Depending on the activities to be conducted, there may be a number of additional licences and authorisations required. Residue stockpiles and residue deposits are regulated by the Waste Act. A waste management licence is also required for the storage of tailings. In addition, the regulations regarding the planning and management of residue stockpiles and residue deposits from a prospecting, mining, exploration or production operation will apply.

Closure is covered in question 9. There is a requirement, prior to being granted a mining or prospecting right, to provide sufficient financial provision to cover the costs of rehabilitation. This financial provision must be assessed annually and, where necessary, increased by the holder. To close an operation, an environmental authorisation must be obtained, and its requirements fulfilled, before a mine closure certificate can be issued.

Upon closure, a portion of the financial provision may be retained by the Minister to cover latent and residual post-closure impacts. The holder of a mining or prospecting right must apply for a closure certificate, within a prescribed period, after:.

The affected land must be correctly zoned, or a pre-existing right to use the land for mining purposes must exist, before prospecting or mining activities may commence. The precise requirements differ depending on where the property is situated, as each municipal authority ordinarily has its own by-law and land use scheme which apply.

Recent court judgments have recognised the rights of people who occupy land in terms of any tribal, customary or indigenous law or practice of a tribe as defined in the Interim Protection of Informal Land Rights Act, In these judgments, the court determined that the consent of the community which occupies such land must be obtained before a mining right may be granted in respect of such land.

The MHSA, read with the regulations promulgated in terms thereof, governs health and safety in mining. Significant obligations are placed on the owners, employers, managers and employees of a mine in relation to the health and safety of the mine. In terms of the MHSA, there are a number of statutory appointments that must be made in order for the owners, employers, managers and employees of the mine to comply with health and safety obligations. Any breach of a duty contemplated in terms of the MHSA may attract criminal liability.

In March , at the onset of the COVID pandemic in South Africa, there were various restrictions on the movement of people, and the country was placed under national lockdown. During this time, only essential mining was permitted, whilst other operations were placed in care and maintenance.

Since then, restrictions have been gradually lifted and normal operations restored, provided that the mandatory Code of Practice on the Mitigation and Management of the COVID Outbreak, prescribed by the Chief Inspector of Mines, has been adopted and implemented by the mine. On a social level, South African mining companies have been at the forefront of providing access to testing and vaccination facilities to their employees and the communities in which they operate.

The Mineral and Petroleum Titles Registration Office is the central titles office which registers all mining and prospecting rights, amendments, cessions, and bonds relating to such rights. There is an obligation on the holder of such rights, in terms of the MPRDA, to lodge its rights for registration within the prescribed time periods. Yes, the MPRDA makes provision for appeals to be submitted by any person whose rights or legitimate expectations have been materially and adversely affected, or by any person who is aggrieved by any administrative decision taken in terms of the MPRDA.

Furthermore, there is a right to appeal the grant or refusal of the related environmental authorisation to the Minister of Forestry, Fisheries and Environment, as set out in NEMA. Yes, the Constitution of the Republic of South Africa, is the highest law in the land and has an impact on rights to conduct reconnaissance, exploration and mining. Specifically, section 25 protects property from being expropriated without just and equitable compensation, and from arbitrary deprivation.

South Africa concluded several bilateral investment treaties BITs after the abolition of the apartheid regime in Relates to digital assets; amends title 28, Idaho code, by the addition of a new chapter 53, title 28, Idaho code, provides a short title, defines terms, provides for classification of digital assets as property and provides application to the uniform commercial code, to provide for digital asset custodial services, provides for jurisdiction of Idaho courts, and establishes the Idaho utility token act.

Relates to digital assets; adds a new chapter 53, title 28, Idaho code, to provide a short title, to define terms, to provide for classification of digital assets as property and to provide application to the uniform commercial code, to provide for perfection of security interests and certain secured parties, to provide for digital asset custodial services, and to provide for jurisdiction of Idaho courts. Includes virtual currency as a digital asset. Amends the State Treasurer Act.

Repeals provisions regarding transfer of power; transfer of personnel; transfer of property; and rules and standards. Changes the definition of "virtual currency". Provides that a money order is presumed abandoned if it is unclaimed by the apparent owner three rather than seven years after issuance. Provides that virtual currency is presumed abandoned if it is unclaimed by the apparent owner five years after the last indication of interest in the property.

Provides that a business association who has no reportable property shall so report to the administrator under specified circumstances. Includes a provision regarding identification of apparent owners of abandoned property using other state databases.

Provides that if property reported to the administrator is virtual currency, the holder shall liquidate the virtual currency and remit the proceeds to the administrator. Makes changes to provisions regarding: when tax-deferred and tax-exempt retirement accounts presumed abandoned; U. Provides that a corporation that has been or shall be incorporated under the general corporation laws of the state for the special purpose of providing fiduciary custodial services or providing other like or related services as specified by rule may be appointed to act as a fiduciary with respect to such services and shall be designated a special purpose trust company.

Provides that it shall not be lawful for any person to engage in the activity of a special purpose trust company without first filing an application for and procuring a certificate of authority from the secretary of Financial and Professional Regulation. Provides that the Department shall adopt rules for the administration of the Article, and that specified Articles of the Corporate Fiduciary Act shall apply to a special purpose trust company as if the special purpose trust company were a trust company.

Amends the Illinois Banking Act. In provisions concerning conversion and merger with trust companies, provides that a special purpose trust company may merge with a state bank or convert to a state bank as if the special purpose trust company were a trust company. Defines "special purpose trust company". Amends the Blockchain Business Development Act to provide that the Department of Financial and Professional Regulation shall have authority to adopt rules, opinions, or interpretive letters regarding the custody of digital assets, including digital consumer assets, digital securities, and virtual currency.

Repeals the unclaimed property act and replaces it with the revised unclaimed property act. Includes virtual currency. Amends KRS Commends Bitcoin for its success in becoming the first decentralized trillion dollar asset and encourages the state and local governments to consider ways that could help them benefit from the increased use of this new technology. LD , Special Session. Improves the efficiency of certain consumer credit protection laws; confirms the ability of the Bureau of Consumer Credit Protection to regulate transmission of digital currencies, such as Bitcoin.

This bill proposes to implement strategies relating to blockchain, cryptocurrency and other financial technology to promote regulatory efficiency, enable business organizational and governance structures that may expand opportunities in financial technology and promote education regarding and adoption of financial technology in the public and private sectors.

This bill also proposes to: 1. Define "blockchain" and "blockchain technology"; 2. Enable the creation and regulation of personal information protection companies; 3. Enable the creation of blockchain-based limited liability companies; and 4. Create a study for the potential use of blockchain technology in government record keeping. Establishes a special commission including members of the General Court on blockchain and cryptocurrency.

Includes cryptocurrency in the definition of money. Modifies certain provisions of law related to public safety, law enforcement, adult and juvenile corrections, community supervision, rehabilitation, criminal sexual conduct, crime, sentencing, community safety, crime victims, child protection background checks, emergency response, fire safety, civil law, data practices, human rights, and forfeiture law; provides for task forces and working groups; provides for rulemaking; provides for criminal penalties; requires reports.

LB Authorizes the state treasurer, if he or she makes certain determinations and obtains the approval of the State Board of Finance, to enter into a contract to provide for the acceptance of transfers of digital tokens by certain governmental entities that have been approved by the state treasurer to participate in the contract. Relates to unclaimed property; revises provisions of the Uniform Unclaimed Property Act.

AB Establishes the office of financial resilience to develop and implement new programs and initiatives for the purpose of supporting local economies and promoting resilient financial models. Establishes a task force to study the potential designation of economic empowerment zones for the mining of cryptocurrencies in the state of New York.

Establishes a task force to study the impact of a state-issued cryptocurrency on the state of New York. Establishes that state agencies are allowed to accept cryptocurrencies such as bitcoin, ethereum, litecoin and bitcoin cash as payment. Establishes a moratorium on the operation of cryptocurrency mining centers; provides that operation of a cryptocurrency mining center shall only be authorized following completion of a full generic environmental impact statement review and a finding that such center will not adversely affect the state greenhouse gas emission targets in the climate leadership and community protection act of ; provides for the repeal of such provisions upon expiration thereof.

Creates the digital currency task force to provide the governor and the legislature with information on the potential effects of the widespread implementation of digital currencies on financial markets in the state. Directs the New York state energy research and development authority to conduct a study on powering cryptocurrency mining facilities with renewable energy. HB SB Authorizes and regulates sports wagering, includes digital and cryptocurrency in definition of cash equivalent.

Directs the Legislative Management to consider studying the feasibility and desirability of regulating special purpose depository institutions and regulating other entities engaged in virtual currency business activities. Requires, during the interim, the legislative management shall consider studying the feasibility and desirability of regulating special purpose depository institutions and regulating other entities engaged in virtual currency business activities.

Relates to the Revised Uniform Unclaimed Property Act; relates to abandoned and unclaimed property; relates to the uniform unclaimed property act; provides for a report; provides a penalty; provides a continuing appropriation.

Directs the corporation to lease or acquire real property and construct or renovate offices, facilities and business locations throughout the state at which corporation receives, handles, stores and dispenses cash and other valuable property. Establishes the Oregon Cash Depository Corporation Fund in the State Treasury and requires the corporation to deposit all moneys the corporation receives into the fund.

Subjects the corporation to an annual audit by the secretary of State and requires the corporation to respond to recommendations in the audit report.

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