Bill > S2198

This joint resolution establishes a special five-member legislative commission to study blockchain and cryptocurrency, with the goal of making Rhode Island a leader in these areas while ensuring consumer protection. The commission will be chaired by the Secretary of Commerce (or their designee) and include the Director of the Department of Business Regulation (or their designee), along with three public members appointed by various legislative leaders, representing academia, financial institutions, and federal securities law expertise. Blockchain is a technology for storing data on decentralized networks, often used to record cryptocurrency transactions like a digital ledger, while cryptocurrency is a digital form of money. The commission is tasked with reviewing national trends, assessing current state laws, studying non-fungible tokens (NFTs), gathering expert opinions, and developing legislative proposals to foster a positive economic environment and appropriate consumer safeguards. The commission must submit an interim progress report by January 5, 2027, and a final report by January 5, 2028, after which it will expire on February 5, 2028. Both reports will be publicly accessible online.

Business and Industry

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