Bill > SR26

This 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 described as a decentralized, distributed ledger technology that securely records digital asset transactions without intermediaries like banks, thereby reducing costs and virtually eliminating errors and tampering. The task force will be composed of various representatives, including government officials, legislators, academics, and individuals from the cryptocurrency and blockchain industries, and will be tasked with reviewing national trends, developing a plan for broader adoption, and proposing potential legislation. The task force is required to submit its findings and recommendations to the Legislature by a specific date before the 2023 legislative session.