Rhode Island 2024 Regular Session

Rhode Island Senate Bill S2502

Introduced
3/1/24  

Caption

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.)

Impact

The proposed commission is expected to have a significant impact on how Rhode Island approaches the regulation of blockchain and cryptocurrency. By gathering data and insights from various stakeholders, the commission seeks to develop legislative proposals that could streamline regulations and encourage growth in this sector. This could lead to new job creation, increased investment, and a more robust technological infrastructure within the state, aligning with the state's goals of enhancing its economic landscape.

Summary

Senate Bill S2502 aims to establish a special legislative commission tasked with studying blockchain and cryptocurrency in Rhode Island. This initiative reflects the growing importance of these technologies in the economy and the state's interest in becoming a leader in this innovation space. The commission will consist of five members, including representatives from state agencies, academia, and the financial sector, tasked with analyzing the current state of blockchain and cryptocurrency laws in the state and across the country while exploring potentials for legislation that would foster a positive business environment for these technologies.

Contention

While the bill is designed to create a pro-business environment, there may be underlying contention regarding the regulation of cryptocurrencies and blockchain technologies. Critics may argue that insufficient regulation could lead to risks associated with fraud and market volatility. Additionally, there could be concerns over consumer protections and how this bill addresses those issues. As the commission evaluates the regulatory framework, the discussions around the balance between innovation and necessary oversight will be crucial in shaping the future of this field in Rhode Island.

Companion Bills

No companion bills found.

Previously Filed As

RI H6401

House Resolution Creating A Special Legislative Commission To Study And Provide Recommendations And Comments For Healthcare Liability Reform (creates A 15 Member Legislative Commission To Study And Provide Recommendations And Annotations For Healthcare Liability Reform In Rhode Island, And Report Back To The House By January 15, 2024, And Expire On April 15, 2024.)

RI S0142

Senate Resolution Creating A Special Legislative Commission To Study And Review Rhode Island's Minimum Wage (creates An Eleven (11) Member Special Legislative Study Commission Whose Purpose It Would Be To Study Rhode Island's Minimum Wage, And Who Reports Back To The Senate No Later Than May 4, 2024, And Whose Life Expires On January 4, 2025.)

RI S0795

Joint Resolution Creating A Special Legislative Commission To Write An Olmstead Plan For Rhode Island (creates A Twenty-eight (28) Member Special Legislative Commission Whose Purpose It Is To Write An Olmstead Plan For Ri, And Who Reports Back To The General Assembly No Later Than January 3, 2024, And Whose Life Expires On July 1, 2024.)

RI H5882

Joint Resolution Creating A Special Legislative Commission To Write An Olmstead Plan For Rhode Island (creates A Twenty-eight (28) Member Special Legislative Commission Whose Purpose It Is To Write An Olmstead Plan For Ri, And Who Reports Back To The General Assembly No Later Than January 3, 2024, And Whose Life Expires On July 1, 2024.)

RI H5502

Joint Resolution Creating A Special Joint Legislative Commission To Study And Provide Recommendations To Protect Our Environment And Natural Resources From Plastic Bottle Waste (creates A 16 Member Joint Commission To Study And Provide Recommendations To Protect Our Environment From Plastic Bottle Waste, And Who Would Report Back To The General Assembly By February 28, 2024, And Expire On June 30, 2024.)

RI S1004

Senate Resolution Creating A Special Legislative Commission To Study And Provide Recommendations For Improving The Pawtucket Corridor (creates A Thirteen (13) Member Commission To Study And Provide Recommendations For Improving The Pawtucket Corridor, And Reports Back To The President Of The Senate On Or Before May 7, 2024, And Expires On June 7, 2024.)

RI S0634

Senate Resolution Creating A Special Legislative Commission To Study The Impact And Potential Economic Benefits Of Bail Reforms On Black Rhode Islanders And The State (creates An Eleven (11) Member Commission To Study The Impact And Potential Economic Benefits Of Bail Reforms On Black Rhode Islanders And The State, And Would Report Back By February 5, 2024, And Expire On April 5, 2024.)

RI H6342

House Resolution Creating A Legislative Study Commission To Evaluate And Provide Recommendations On Proper Forest Management For Fire Prevention (creates A 12 Member Commission To Evaluate And Provide Recommendations On Proper Forest Management For Fire Prevention, And Who Would Report Back To The House By February 28, 2024, And Expire On April 30, 2024.)

RI H6422

House Resolution Creating A Legislative Study Commission To Evaluate And Provide Recommendations On Mandated Safety Protocols For Rhode Island Schools (creates A 21 Member Commission To Evaluate And Provide Recommendations On Mandated Safety Protocols For Ri Schools, And Who Would Report Back To The House By February 28, 2024, And Expire On April 30, 2024.)

RI H5224

House Resolution Creating A Special Legislative Commission To Study And Provide Recommendations Pertaining To Services And Coordination Of State Programs Relating To Older Adult Rhode Islanders (creates A 16 Member Commission To Study And Provide Recommendations For Services And The Coordination Of State Programs For Older Adult Rhode Islanders, And Report Back By May 7, 2024, And Expire On August, 2024.)

Similar Bills

AZ HB2654

Cryptocurrency and blockchain commission

HI SR26

Requesting The Department Of Commerce And Consumer Affairs To Create A Task Force To Study The Approval Of Blockchain Technology And Cryptocurrency In The State.

HI SCR31

Requesting The Department Of Commerce And Consumer Affairs To Create A Task Force To Study The Approval Of Blockchain Technology And Cryptocurrency In The State.

HI SB2695

Relating To Cryptocurrency.

ME LD1286

Resolve, to Establish the Commission to Study the Impact of Blockchain Technology and Cryptocurrency on Maine's Economy and the Risks of Fraud and Theft to Maine Consumers

VA SB439

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

AZ HB2387

Cryptocurrency kiosk; license; fraud prevention

RI 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.)