Bill > SCR31

This Concurrent Resolution requests the Department of Commerce and Consumer Affairs to establish a task force to investigate how blockchain technology and cryptocurrency should be approved and regulated within the state. Blockchain is a secure, decentralized digital ledger system that allows for transparent and tamper-proof recording of transactions, often without the need for intermediaries like banks, which can reduce costs and errors. The task force will be composed of various representatives, including government officials, legislators, academic experts, and individuals from the cryptocurrency and blockchain industries, to study the current landscape of these technologies nationally and internationally. Its mandate includes developing a plan to encourage blockchain adoption in both public and private sectors, identifying potential legislative needs, and ultimately submitting a report with findings and recommendations to the Legislature by early 2023.