Massachusetts 2023-2024 Regular Session

Massachusetts House Bill H69

Introduced
2/16/23  
Refer
2/16/23  
Refer
2/22/24  

Caption

Establishing a special commission on blockchain and cryptocurrency

Impact

The commission established by this bill will consist of 25 members from various sectors, including legislators, state officials, and representatives from technology companies. Their responsibilities include evaluating the feasibility of blockchain applications in state governance, judicial processes, and business operations. The commission is also expected to report back to the General Court within a year to provide recommendations and potential legislation aimed at fostering a positive environment for blockchain initiatives.

Summary

House Bill 69, titled 'An Act establishing a special commission on blockchain and cryptocurrency,' aims to create a dedicated commission tasked with investigating blockchain technology and formulating a comprehensive plan for its appropriate expansion within the Commonwealth of Massachusetts. This bill seeks to address the complexities surrounding blockchain technology, facilitating its integration while managing associated risks and implications for various sectors, including government and business.

Contention

Potential points of contention surrounding H69 may arise from concerns about privacy, security, and the need for adequate consumer protections in the increasingly popular but often unregulated blockchain and cryptocurrency markets. Additionally, debates may focus on how extensively state policy should facilitate or restrict blockchain technology's growth, particularly regarding taxation, energy consumption, and the implications for existing business practices. The impact on state revenues from the burgeoning cryptocurrency industry and the advisability of taxing cryptocurrency transactions are also likely to generate discussion among lawmakers.

Companion Bills

MA S29

Similar To Establishing a special commission on blockchain and cryptocurrency

MA H4562

Similar To To protect pollinator habitat

MA S2728

Similar To Resolve to protect pollinator habitat

Previously Filed As

MA H88

Establishing a special commission on blockchain and cryptocurrency

MA S29

Establishing a special commission on blockchain and cryptocurrency

MA S38

Resolve establishing a special commission on blockchain and cryptocurrency technology

MA HB2654

Cryptocurrency and blockchain commission

MA SB439

Blockchain and cryptocurrency; Joint Commission on Technology & Science to examine use, etc.

MA S0373

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 5 member commission to recommend legislative proposals for blockchain and cryptocurrency, and submit an interim progress report by January 5, 2026, and a final report by January 5, 2027, and would expire on February 5, 2027.)

MA S2502

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 5 member commission to recommend legislative proposals for blockchain and cryptocurrency, and submit an interim progress report by January 5, 2025, and a final report by January 5, 2026, and expire on February 5, 2026.)

MA H7817

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 5 member commission to recommend legislative proposals for blockchain and cryptocurrency, and submit an interim progress report by January 5, 2025, and a final report by January 5, 2026, and expire on February 5, 2026.)

MA H1247

Relative to preventing fraud and establishing regulations on certain virtual currencies

MA H5810

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 7-member commission to for proposals encouraging a positive economic environment for blockchain and cryptocurrency, and would submit an interim report by January 5, 2026, a final report by January 5, 2027, and expires on February 5, 2027.)

Similar Bills

US HB1664

Deploying American Blockchains Act of 2025

US HB6572

Deploying American Blockchains Act of 2023

US SB1492

Deploying American Blockchains Act of 2025

HI HB622

Relating To Blockchain Technology.

AZ SB1156

Blockchain technology; tax; fee; prohibition

AZ SB1236

Blockchain technology; tax; fee; prohibition

CA SB711

Community colleges: blockchain industry report.

AZ SB1015

Blockchain technology; tax; fee; prohibition