Bill > HCR3022

This concurrent resolution directs the Legislative Management to consider conducting a comprehensive study on political subdivisions' potential investments in stablecoins, which are digital currencies designed to maintain a stable value. The resolution acknowledges that stablecoins represent an emerging technology in the digital economy with potential benefits like improved payment efficiency and financial inclusion, while also recognizing associated risks such as cybersecurity threats and market volatility. The proposed study would require gathering input from various stakeholders, including representatives from political subdivisions, to examine critical aspects of stablecoin investments such as security, risk management, transparency, regulatory compliance, oversight, custodian selection, internal controls, and resource allocation. The Legislative Management would be expected to report its findings and recommendations, potentially including draft legislation, to the Seventieth Legislative Assembly, thereby providing a comprehensive assessment of the feasibility and potential implications of political subdivisions investing in this innovative financial instrument.