summary
Introduced
02/08/2023
02/08/2023
In Committee
Crossed Over
Passed
Dead
03/18/2023
03/18/2023
Introduced Session
2023 Regular Session
Bill Summary
AN ACT RELATING TO LICENSURE; ENACTING THE TECHNOLOGY SANDBOX ACT; PROVIDING TEMPORARY AND LIMITED REGULATORY WAIVERS TO CERTAIN APPLICANTS THAT PROVIDE AN INNOVATIVE USE OF BLOCKCHAIN TECHNOLOGY; ESTABLISHING APPLICATIONS AND PROCEDURES; PROVIDING PROTECTIONS FOR CONSUMERS; LIMITING AN APPLICANT'S RIGHT TO PROTEST THE DENIAL OF A REGULATORY WAIVER; LIMITING A SANDBOX PARTICIPANT'S RIGHT TO PROTEST THE SUSPENSION OF A REGULATORY WAIVER; MAKING AN APPROPRIATION.
AI Summary
This bill, the Technology Sandbox Act, allows the Attorney General to grant temporary and limited regulatory waivers to certain applicants that provide an innovative use of blockchain technology. The bill defines key terms such as "blockchain technology," "innovative use," and "sandbox participant." It outlines the application process, including required disclosures to consumers, and allows the Attorney General to suspend or revoke a waiver if necessary to protect consumers. The bill also requires the Attorney General to adopt rules, including on acceptable cryptocurrencies, and appropriates $400,000 to the Attorney General's office to administer the program.
Committee Categories
Justice
Sponsors (0)
No sponsors listed
Last Action
Sent to HJC - Referrals: HJC/HAFC (on 02/08/2023)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=356&year=23 |
| BillText | https://www.nmlegis.gov/Sessions/23%20Regular/bills/house/HB0356.pdf |
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